Stein noted that the fourth year includes a player option and a 15 per cent trade kicker. The Kings have 48 hours to match the Hawks' offer sheet, or else Bogdanovic will head to Atlanta.
Bogdanovic averaged a career-best 15.1 points per game with Sacramento last season, his third year in the league. The 27-year-old added 3.4 assists and 3.4 rebounds a game last year, too.
A few days ago, Bogdanovic was at the centre of some NBA trade drama, when a reported sign-and-trade between the Kings and Milwaukee Bucks fell through.