Free agent guard Malik Monk plans to sign new four-year contract with Sacramento Kings

Following weeks of uncertainty and trepidation in Sacramento, free agent guard and fan favorite Malik Monk has reached an agreement to remain with the Kings.

ESPN’s Adrian Wojnarowski reported Thursday that Monk intends to sign a four-year, $78 million deal that could keep him in Sacramento through the 2027-28 season. Under the collective bargaining agreement, that was the maximum contract the Kings could offer Monk using his early Bird rights.

Monk’s agents, Jeff Schwartz and Marcus Monk of Excel Sports, began negotiating with Kings general manager Monte McNair and assistant general manager Wes Wilcox on Tuesday following the conclusion of the NBA Finals. Monk reportedly intends to sign the deal when the league’s moratorium ends on July 6.

Monk, the runner-up for the NBA’s Sixth Man of the Year award, has been warmly embraced since coming to Sacramento to reunite with childhood friend and former Kentucky teammate De’Aaron Fox. Monk has flourished over the past two seasons in Sacramento, establishing himself as one of the NBA’s top reserves.

Monk, 26, averaged 13.5 points, 2.6 rebounds and 3.9 assists in 2022-23 to help the Kings end the longest playoff drought in NBA history after 16 consecutive losing seasons. He was even better this season, averaging career highs of 15.4 points and 5.1 assists over 72 games before suffering a sprained MCL. The injury caused Monk to miss the final nine games of the regular season and both of Sacramento’s play-in games.

Monk started his career with the Charlotte Hornets after coming out of Kentucky as the 11^th overall pick in the 2017 NBA draft. He spent four seasons in Charlotte and one season with the Los Angeles Lakers before signing a two-year, $19.4 million deal with the Kings in 2022.

Monk’s pending free agency was considered a huge offseason priority in Sacramento. His presence in the locker room and his production on the floor would have been irreplaceable.

The Athletic reported Monk will be paid $17.4 million in the first year, $18.8 million in the second year and $20.2 million in the third year with a player option for $21.6 million in the final year.

Monk addressed his free agency after Sacramento’s season ended with a play-in tournament loss to the New Orleans Pelicans.

“Emotions are everywhere,” Monk said. “I came here, (played with) one of my best friends, turned the organization round, turned the city around. The city loves me and I love the city, so the emotions are everywhere right now.”

Monk gave the Kings and their fans a sliver of hope when asked about weighing his options against the relationships he has formed and the success he has achieved in Sacramento.

“It’s big because I can go somewhere else with a lot more money and be in a worse situation, so you never know,” Monk said. “I’ve got a great agent who’s going to do his job. I think my job is done because I did what I needed to do this year and it’s going to play out. I think it’s going to play out the right way.”