Domantas Sabonis, Kings Agree to 5-Year, $217M Contract Extension; $195M in New Money

The Sacramento Kings made sure Domantas Sabonis didn't hit the open market next summer after agreeing to a five-year, $217 million extension.

ESPN's Adrian Wojnarowski relayed the news on Saturday from Sabonis' agents, Greg Lawrence and Jason Ranne.

The deal includes $195 million in new money. In addition, Sabonis' 2023-24 salary will be renegotiated, and four new seasons will be added to the contract, per Wojnarowski.

The three-time All-Star was entering the final year of his contract before he was eligible for unrestricted free agency in 2024.

Sacramento left a lot of fans befuddled when it acquired Sabonis ahead of the 2022 trade deadline in a deal that included Tyrese Haliburton.

The Kings sacrificed a dynamic young guard on a rookie contract—one who really wanted to play in Sacramento, no less—for a pretty good but not quite elite big man who could walk out the door in a few years.

That's often a worthwhile bet for a franchise on the cusp of a deep playoff run, not one that goes on to win 30 games.

The narrative surrounding the trade changed dramatically as Sacramento finished with the third-best record in the Western Conference (48-34) in 2022-23, with Sabonis playing a key role in the team's success.

The 27-year-old averaged 19.1 points and an NBA-best 12.3 rebounds en route to earning his third All-Star appearance. His 66.8 percent true shooting rate was the ninth-highest in the league, per Basketball Reference.

The 2021-22 campaign was a wash in terms of evaluating the partnership of Sabonis and De'Aaron Fox because the former was limited to 15 games with the team following his midseason trade.

With the benefit of health and continuity, the pair were devastating together and exactly the kind of complementary duo Sacramento general manager Monte McNair when he brought Sabonis in.

Speaking to ESPN's Zach Lowe in March, Sabonis reflected on how much Fox's selfless attitude helped him on the floor.

"I was really surprised," he said. "He has been with the Kings forever. This is his team. He really let me do my thing. Not many franchise point guards would let their big man bring the ball up. He ran with me. He set screens for me. That's what shocked me most. That's what made the transition so easy. Neither of us care who is who. We just want to win."

As last season unfolded, it became apparent the 6'11" center was a large part of the organization's future along with Fox.

Settling on a dollar value for his next deal was bound to prove trickier, especially with a new collective bargaining agreement that can significantly restrict teams that hit the second apron of the salary cap.

Even under the old CBA, you could dispute the notion Sabonis was a surefire max-contract player. Teams in smaller markets can't afford to swing and miss on a deal of that scale, especially when it's supposed to put them over the top. Under the current cap structure, Sacramento's margin for error shrinks even further.

As great as their breakthrough was, losing to the Golden State Warriors in the first round underscored the Kings' need for reinforcements. Getting to the right number with Sabonis was necessary toward having enough money left over to get those deals done.

With that agreement now finalized, McNair knows what the payroll looks like for the next few years and what avenues for improvement are open.