The Sacramento Kings are in a difficult situation with their sixth man Malik Monk.
The 6’3 guard, who has developed at a rapid rate since signing in Sacramento two years ago, will hit the market as an unrestricted free agent this summer, and outside teams will be able to offer Monk more money than the Kings themselves will be.
Why is that? It’s due to the original length of the contract Monk signed in 2022.
Per the Collective Bargaining Agreement (CBA), teams only get full bird rights on a player after three seasons of service with the team, or if the player is coming off an initial contract spanning three or more years and is traded to their final team before free agency.
Full bird rights allow a team to go over the cap to re-sign a player up to a maximum level contract, which is where Sacramento’s problem is.
Monk signed for two years, meaning the Kings have only “early” bird rights on him, which caps them at what they can offer him. Specifically, it caps the Kings at making an offer beyond 175% of what he earned this season, which was slightly over $9.9 million. That comes to out to around $78 million over four years.
Had the original deal between Monk and the Kings been for three years, this wouldn’t have been a problem. The Kings would have had full bird rights, and could have re-signed Monk to whatever number they wanted.
(Monk would still have to agree, as having full bird rights does not change his status as an unrestricted free agent.)
So, are there any loopholes for the Kings here?
Outside of selling Monk on the positive experience of being a King for two years, there is no way for Sacramento to manipulate the salary cap – of which they’re over – to offer Monk more money this offseason.
However, given that their entire problem boils down to the fact that Monk has played one year less than required to be eligible for full bird rights, here’s what the Kings can do:
They can renounce their early bird rights on Monk, and instead re-sign him with the Non-Bird exception (120% of his salary this season). They might do this in order to sign him to a one-year contract, instead of the minimum two years required by the early bird exception.
By then, Monk would have then played for the franchise for three season, and Kings would then be able to re-sign him to whatever they want.
However, this would have to be a huge sell to Monk and his financial team, as Monk would enter the 2024-2025 season with no long-term contract, just as he did this season. If he’s seriously injured, his value will diminish significantly.
Furthermore, while the Kings could choose to compensate Monk for his sacrifice of taking less money for next season – by, for example, adding the difference between his market value and his actual compensation to the total amount of a future contract – this would be salary cap circumvention, which is illegal per NBA rules.
Monk, who is represented by Klutch Sports, would of course follow the train of logic in what the Kings are trying to do, but it remains absolutely crucial that Sacramento does not put into words what their larger plans are, as to stay within the rule set agreed upon by the league and players’ association.
Finally, Monk has shown a great level of interest in remaining with the Kings. A one-year offer, only to open the door for a long-term contract worth much more money a year from now, is likely not without a certain level of interest.
Keep in mind, the Kings actively want to compensate Monk at a level higher than they’re capable of at this stage. For the Kings to plan ahead, and prove to Monk they’re willing to find a solution to the current problem, is at least proactive and sends a signal of how serious they are about wanting to keep him in Sacramento.
At the end of the day, it’s up to Monk to make a call.
He could sign elsewhere, and probably for $100 million over four years. Or he could take Sacramento’s one-year offer, and re-sign in 2025 to a deal larger than anything he’s been presented with this summer.
Given the success he’s had in head coach Mike Brown’s system, there’s one final element to consider.
Monk has gotten better as a player in both years as a King. Who’s to say he won’t take yet another step next season, further improving his market?
He knows what role is available to him under Brown, he understands the system, and he shares a backcourt with college teammate, and close friend, De’Aaron Fox.
It would seem likely he stands to benefit more, as a player, from keeping himself in Sacramento, at least for another year. If so, that opens even more doors than this season.
Unless noted otherwise, all stats via NBA.com, PBPStats, Cleaning the Glass or Basketball-Reference. All salary information via Spotrac. All odds courtesy of FanDuel Sportsbook.
