George Karl to coach Kings

— -- George Karl has reached a deal to become the next coach of the Sacramento Kings, league sources confirmed to ESPN.com on Thursday.

The deal is expected to be formally announced by the Kings on Thursday or Friday, with a formal news conference likely to take place after All-Star Weekend.

Terms have not been announced, but Karl, an ESPN analyst, will get a four-year deal worth an estimated $15 million.

Karl, who is attending a private funeral service for former North Carolina coach Dean Smith on Thursday, will take over as Tyrone Corbin's successor and Sacramento's third coach of the season starting next week.

Sources told ESPN.com earlier this week that Corbin was informed by team officials that the Kings' games Tuesday and Wednesday in Chicago and Milwaukee would likely be his last two in charge. Corbin sports a record of 7-21 since the Kings abruptly fired Mike Malone in mid-December despite Malone's strong relationship with Kings star  DeMarcus Cousins.

The 63-year-old Karl -- who rejoined ESPN after leaving the Denver Nuggets on the heels of winning NBA Coach of the Year honors for the 2012-13 season -- ranks sixth all-time among NBA coaches with 1,131 wins. He coached in Cleveland, Golden State, Seattle and Milwaukee before his run with the Nuggets. After Karl joined the Nuggets midstream in the '04-05 season, he led them to a 32-8 finish.