Malik Monk agrees to $78 million contract to stay with Kings

The Kings have signed one of the team’s top stars to a new contract.

Malik Monk agreed to a four-year, $78 million contract Thursday night that includes a player option. According to ESPN’s Adrian Wojnarowski.

The Kings, who failed to advance from the play-in round, are hoping the guard will return during free agency after he averaged career-highs of 15.4 points and 5.1 assists in 2023-24.

They got what they wanted.

Monk, 26, was runner-up for the league’s Sixth Man of the Year award for his performance.

On June 30, the free agent market will officially open, and players can openly and legally communicate with teams in the free market. At that time, Monk can start listening to the opinions of other teams.

On Wednesday, the Kings’ De’Aaron Fox told reporters that he has not spoken with Monk about his free agency decision since the season ended.

“I haven’t really asked him about it… I’m not sure.” Fox told ABC10“We’re friends first. … I didn’t really ask him anything about free agency.”

“I’m certainly happy for him to be in this situation and obviously have multiple teams chasing him,” Fox added. “Obviously, we’d like him to stay, but at the end of the day, he’s got to do what’s best for him.”

The upcoming season will be Monk’s third in Sacramento.

After being selected by the Hornets in the first round (11th overall) of the 2017 NBA Draft, Monk spent four years in Charlotte and then played one season with the Lakers before joining the Kings.