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Kings officially reach an agreement with George Karl

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Chris Humphreys-USA TODAY Sports

For those of you who have continued to clamor about the semantics of "official" and "unofficial", here's the "official" word on George Karl from the Sacramento Kings:

The Sacramento Kings today have reached an agreement in principle with George Karl, the sixth-winningest coach in NBA history with 1,131 career victories, to become the team's head coach, according to General Manager Pete D'Alessandro.

A press conference formally introducing Karl will be scheduled when the agreement is finalized.

Adrian Wojnarowski reports:

George Karl has reached agreement on a four-year contract worth nearly $15 million to become coach of the Sacramento Kings, a league source told Yahoo Sports.

Sacramento plans to make a formal announcement soon.

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 against Boston. Karl is set to earn $3.25 million in 2015-16 and $5 million per season in the final two years of the deal, a source said.

Karl will take over the team during the All-Star Break and have a few days to prepare before his first game next Friday at home against the Boston Celtics.  Karl is rumored to be assembling a staff, but it's unknown which of the current staff will remain, if any.