The Sacramento Kings and George Karl have agreed upon a four-year contract worth nearly $15 million to become head coach.

The $14.5 million deal will include a $1.5 million buyout provision on the $5 million owed Karl in the final year of the contract, a source told Yahoo Sports.

Karl will earn $1.25 million for the rest of the 2014-15 season, which will begin with his Kings debut after the All-Star break on Feb. 20.

The Kings fired Michael Malone in December and have parted ways with Tyrone Corbin following their recent struggles.