Martin McNeal of the Sacramento Bee reports: On Thursday, Mike Bibby agreed to a new seven-year, $80 million contract with the Sacramento KIngs.

 "I'm happy," Bibby said Thursday night from Las Vegas before a late dinner. "I figured something would happen in that meeting. I'm glad to be back in Sac."

The Kings will announce the signing today at a news conference in Las Vegas.

It is the team's second news conference in three days after signing free-agent forward Keon Clark on Wednesday.