The Kings announced Monday the hiring of Warriors assistant coach Michael Malone as the team's head coach.
"Michael Malone is one of the best and most talented coaches in the game," Kings owner Vivek Ranadive said in a statement. "His work ethic, passion, and vision for the game will create an entirely new culture and style of play. Hiring Coach Malone is our first step in giving the best fans in sports the excellence they deserve."
The agreement was first reported on Thursday. Yahoo! Sports reports that Malone will receive a four-year deal that includes a team option on the final year. USA Today Sports confirmed that report, noting that the total value of the deal over four years is $9 million.
The job will mark the first head coaching position of Malone's 10-year career in the NBA, which included stints as an assistant coach with the Knicks, Cavaliers and Warriors. Malone was hired by Golden State in 2011, where he served as an assistant under Mark Jackson.
Malone, 42, will join Ranadive in moving from the Bay Area to Sacramento. Ranadive served as a minority owner of the Warriors before stepping in as the lead investor in a group that recently purchased the Kings from the Maloof family. Malone will replace Keith Smart, who went 48-93 (.340) in two seasons in Sacramento. Smart holds a career 93-170 (.354) record in four seasons with the Warriors and Kings.
Golden State went 47-35 this season, qualifying for the playoffs for the first time since 2007 as the Western Conference's No. 6 seed. The Warriors defeated the No. 3 seed Nuggets in the first round of the playoffs before pushing the No. 2-seeded Spurs to six games in the conference semifinals.
The Kings went 28-54 and missed the playoffs for the seventh straight season. Malone is the fourth assistant coach to make the leap to a head coaching position in the last week. Jazz assistant Jeff Hornacek was hired by the Suns, Spurs assistant Mike Budenholzer was hired by the Hawks and Lakers assistant Steve Clifford was hired by the Bobcats.