The deal is worth slightly above the minimum salary, a league source told Lowe.
The 7-foot Cauley-Stein had played all four of his seasons in Sacramento since the Kings took him sixth overall in the 2015 draft.
He excelled at running the floor for a Kings team that likes to play at pace, giving them an athletic center who could take some of the focus away from defenses, pass the ball and finish at the rim.
But consistency has been a trouble spot for the former Kentucky star. Take this past season as an example. Cauley-Stein started it by averaging 17.4 points in October. But his numbers dipped after that, including two months (February, April) in which he didn’t even average double figures in scoring.
Cauley-Stein, 25, holds a career average of 10.1 points on 53.4% shooting to go with 6.4 rebounds and 0.8 blocks.
The Athletic was first to report the signing.