Sources: Kings agree to terms with top Warriors assistant Mike Malone for head coaching job

The Sacramento Kings have reached an agreement in principle on a four-year contract to hire Golden State assistant Mike Malone as head coach, league sources told Yahoo! Sports.

The deal will pay Malone more than $2 million annually, sources told Yahoo! Sports.

Kings coach Keith Smart was informed on Thursday that he wouldn't be brought back for the final year of his contract. Sacramento still owes Smart $2.5 million for the 2013-'14 season.

A formal announcement of Malone's hiring is expected on Friday, and the deal includes a team option for the fourth year, sources said.

Malone has been the top assistant to Golden State's Mark Jackson for the past two seasons.

Malone is expected to hire his father, longtime NBA assistant, Brendan Malone, as an assistant coach.

Sacramento is also conducting a search for a new general manager.

Before joining the Warriors, Malone had been a top assistant for Monty Williams in New Orleans and Mike Brown with the Cleveland Cavaliers.

More popular NBA content on Yahoo! Sports
Houston Rockets plan to trade Thomas Robinson to free up cap space for run at Dwight Howard
LeBron James, Pacers duo fined $5K for flopping
Twitter gets Grizzlies' Quincy Pondexter a date with Miss Tennessee
Outlook mixed for three new NBA coaching hires