Sabonis, Kings agree to five-year contract renegotiation and extension

Domantas Sabonis and the Sacramento Kings have agreed to five-year contract extension worth $217 million, according to ESPN’s Adrian Wojnarowski.

The deal includes $195 million in new money, Sabonis’ agents said Saturday night.

The Kings are using the salary cap to deliver an additional $8.6 million to raise Sabonis’ earnings for 2023-24 to $30.6 million and will add a four-year extension that will give him nearly $200 million more over the life of the contract.

Sabonis’ first full season with the Kings in 2023-24 was an excellent one. He averaged 19.1 points, 12.3 rebounds and 7.3 assists while shooting 61.5 percent from the field as he made third-team All-NBA.

Led by Sabonis and De’Aaron Fox, the Kings won the Pacific Division title and ended a 16-year playoff drought in 2022-23 with a 48-34 record.

Sabonis was acquired from Indiana in February 2022 in the deal that sent All-Star guard Tyrese Haliburton to the Pacers.

Breaking: Domantas Sabonis and the Kings have agreed to a contract renegotiation and extension for a total of $217M over five years — including $195M in new money, his agents tell @wojespn. pic.twitter.com/t6q5fLCI60
— ESPN (@espn) July 2, 2023