The Kings have reportedly secured the services of Malik Monk for the upcoming season. Sources indicate that Monk plans to sign a four-year, $78 million contract with the team, which includes a player option for the final year. This decision signals Sacramento’s intention to retain their sixth man on the roster.
With Monk’s new contract signed, the Kings are currently over $1 million above the luxury tax limit. They are also $6.3 million below the first apron and $17.1 million below the second apron. This move will result in Monk earning a projected total of $77.9 million over four years.
Monk’s new deal could push the Kings into taxpayer status for next season, which would require them to make significant roster adjustments such as shedding contracts like Sasha Vezenkov’s $6.6 million cap hit or restructuring other deals to reduce their payroll.
Monk has earned $36 million in his first seven NBA seasons with Charlotte Hornets, Los Angeles Lakers, and Kings before signing this new deal with Sacramento. The new CBA rules allowed Monk and the Kings to negotiate immediately after the NBA Finals, giving them ample time to explore additional moves during free agency and trades before finalizing this agreement on July 6th.
