Per James Ham of NBC Sports Bay Area, Walton is being brought back as head coach after a 62-82 record in two seasons.
Then-Kings general manager Vlade Divac hired Walton as head coach in April 2019. They were teammates on the Los Angeles Lakers during the 2004-05 season. Walton's hiring came a few days after he parted ways with the Lakers following a 98-148 record in three seasons.
In Walton's first year, the Kings had hopes of becoming a playoff contender. They had gone 39-43 in Dave Joerger's final season with an offense that ranked ninth in points per game. Their 39 wins were their most since they totaled 44 in 2005-06.
But Marvin Bagley III suffered a broken right thumb in the 2019-20 season opener, and Sacramento started 0-5. The Kings were included in the NBA restart in Florida but dropped five of their first six games en route to a 31-41 record.
The front office then let Bogdan Bogdanovic leave as a restricted free agent. He had ranked third on the team with 15.1 points per game on 37.2 percent three-point shooting.
The Kings did hit on their first-round draft pick last year. Tyrese Haliburton was one of the NBA's best rookies in 2020-21, but it wasn't enough to lift the franchise into postseason contention.
Sacramento went 31-41, marking the franchise's 15th consecutive losing season without a playoff appearance.
Walton will be given another chance to take the Kings and their promising core to the postseason in 2021-22.
Haliburton figures to get better after a stellar rookie season, Bagley is a quality offensive player, and De'Aaron Fox is one of the best young scoring guards in the NBA.
With another lottery pick, the Kings could become successful.