Talks have been ongoing but George Karl has finally reached an agreement on a four-year contract worth nearly $15 million to become coach of the Sacramento Kings.
The $14.5 million deal will include a $1.5 million buyout provision on the $5 million owed Karl in the final year of the contract, a source told Yahoo Sports.
Karl will earn $1.25 million for the rest of the 2014-15 season, which will begin with his Kings debut after the All-Star break on Feb. 20 against Golden State. Karl is set to earn $3.25 million in 2015-16 and $5 million per season in the final two years of the deal, a source said.
Karl, 63, has won 1,131 regular-season games as an NBA coach, including stops with Cleveland, Golden State, Seattle, Milwaukee and Denver. His immediate challenge will be to stop the freefalling Kings, who have lost 14 of 16 games to drop to 18-34.
After owner Vivek Ranadive insisted on the firing of ex-coach Michael Malone, the Kings struggled under interim coach Tyrone Corbin and turned toward Karl in the past week. Corbin plans to leave the organization and will not be a part of Karl’s staff for the rest of the season, a source said.
There were reports that the Kings star center DeMarcus Cousins did not want George Karl to be hired but the two will now have to work together and get the Kings back on track since the firing of Michael Malone.
