According to two league sources, fourth-year shooting guard Kevin Martin late Monday night agreed to a five-year contract extension with the Kings worth about $55 million.

Martin, whose breakout 2006-07 season will vault him into the upper pay ranks of NBA shooting guards, unexpectedly flew in from his training hub at the IMG Academies in Bradenton, Fla., and arrived in Sacramento on Monday in anticipation of signing his new contract. A news conference is expected this week to announce the deal.

The Kings had until Oct. 31 to finalize an extension or allow him to become a free agent next offseason, but discussions between Kings basketball president Geoff Petrie and Martin's agent, Jason Levien, began in early August.