Sources said Koufos and the Kings have agreed to terms on a four-year deal worth a fully guaranteed $33 million, with an option for Koufos to return to free agency after Year 3 in the summer of 2018.
The Memphis Grizzlies resisted a number of trade inquiries for Koufos last season but, knowing they likely would not be able to afford the 7-footer's market this summer, struck a deal earlier this week with Brandan Wright, essentially signaling that Koufos would be moving on.
After high-profile flirtations with Monta Ellis and Wesley Matthews, new Kings vice president of basketball and franchise operations Vlade Divac has had a productive week. Divac struck deals to sign Rajon Rondo (one year, $9.5 million), Marco Belinelli (three years, $19 million) and then came to terms Saturday with Koufos' agent, Mark Termini..
Koufos, 28, was selected 23rd overall by the Utah Jazz in 2008 but was traded to the Denver Nuggets in 2011 in the three-team deal that sent Carmelo Anthony to the New York Knicks. In 2012, he signed a three-year extension worth $9 million with the Nuggets but was traded to the Grizzlies in 2013 for Darrell Arthur.
The Ohio State product appeared in 81 games for the Grizzlies last season (three starts), averaging 5.2 points and 5.3 rebounds in 16.6 minutes per game.
In seven seasons, Koufos is averaging 5.4 points and 4.7 rebounds in 424 career games.
ESPN.com's Royce Young contributed to this report.