JULY 1: The Kings have reached an agreement to sign Cory Joseph, reports Chris Haynes of Yahoo Sports (via Twitter). According to Haynes, the free agent point guard will receive a three-year, $37MM commitment from Sacramento. Sam Amick of The Athletic reports (via Twitter) that the third year is partially guaranteed.
The agreement caps a busy day for the Kings, who filled a series of holes on their roster, adding quality depth via the free agent market. In addition to striking a deal with Joseph, the Kings agreed to re-sign Harrison Barnes and will add outside free agents Trevor Ariza and Dewayne Dedmon.
Joseph, who is entering his age-28 season, backed up Darren Collison at the point last season for Indiana, averaging 6.5 PPG, 3.9 APG, and 3.4 RPG in 82 games (25.2 MPG). He struggled a little with his shot, as his .412 FG% was the lowest mark he had posted since his rookie season.
In Sacramento, Joseph figures to back up – and perhaps play alongside – promising young point guard De’Aaron Fox.
The Kings will have to renounce restricted free agent Willie Cauley-Stein in order to accommodate all of today’s contract agreements. Amick confirms that the team has rescinded his qualifying offer, making him an unrestricted free agent.
ESPN’s Bobby Marks indicated after the earlier moves that Sacramento would have about $13MM in space remaining if Cauley-Stein’s cap hold was removed from the books, so Joseph’s deal will use just about all of that space. The Kings still have the room exception available.
Photo courtesy of USA Today Sports Images.