Kings sign Colby Jones to rookie contract using NBA’s new second-round pick exception

The Kings have used a clause in the new collective bargaining agreement to sign rookie second-round draft pick Colby Jones.

The Athletic’s Shams Charania reported Sunday the Kings are using the NBA’s new second-round pick exception to sign Jones to a four-year, $8.76 million rookie contract. Under provisions of the collective bargaining agreement, the contract includes a team option in the final year.

Sacramento traded up four spots to select Jones, a 6-foot-6, 205-pound guard from Xavier, with the 34^th overall pick in June’s NBA draft. Jones and second-year forward Keegan Murray will lead the Kings into summer league competition when they face the Golden State Warriors in the California Classic on Monday at Golden 1 Center.

Jones, 21, spent three seasons at Xavier, where he averaged 15.0 points, 5.7 rebounds, 4.4 assists and 1.3 steals as a junior last season. He shot 50.9% from the field and 37.8% from 3-point range, showing marked improvement after hitting 29.2% from beyond the arc as a sophomore.

The Kings believe they found first-round value in Jones, who they viewed as one of the top two-way players in the country. Jones was an All-Big East Conference selection and one of 10 finalists for the Julius Erving Award, which honors the nation’s top small forward.

The second-round pick exception gives teams a couple of new options. They can sign the player to a three-year deal with a first-year salary worth as much as the minimum annual salary for a player with one year of service; or a four-year deal with a first-year salary worth as much as the minimum annual salary for a player with two years of service.