The Sacramento Kings have completed one major task they aimed to do this offseason.
The team will keep shooting guard Malik Monk after agreeing to an extension with a player option on Tuesday, June 20.
The 26-year-old is set to sign a new four-year deal worth $78 million, the maximum amount the Kings are eligible to offer him, according to league insider Adrian Wojnarowski of ESPN.
With an average annual salary of $19.5 million on his new deal spanning from 2024-25 to 2027-28, the former Kentucky player will see a significant jump in earnings after making $9.9 million in 2023-24.
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The Charlotte Hornets selected Monk with the 11th overall pick in the 2017 NBA Draft, where he played until 2021.
He spent one season with the Los Angeles Lakers in 2021-22 before signing with the Kings on a prior bargain two-year deal worth $19 million in the summer of 2022.
Malik Monk barely missed out on major award in 2023-24
Despite the Kings' disappointing season in 2023-24, where they failed to replicate their playoff appearance from 2022-23, Monk had a stellar individual season.
The Arkansas native achieved career highs in scoring with 15.4 points per game and assists with 5.1 dimes per game.
Monk also narrowly missed out on winning the 2023-24 NBA Sixth Man of the Year Award, finishing in second place just 10 points behind the winner, Naz Reid of the Minnesota Timberwolves, in the voting results.
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