In a statement released by the Kings Thursday, the team announced the Kings and the NBA have each hired a team to investigate.
"The Kings and the NBA take these allegations very seriously and will collaborate to conduct a complete and thorough investigation," the statement said in part.
Sports reporter Kelli Tennant is accusing the former Lakers coach of sexual assault. She detailed the alleged incident publicly for the first time Tuesday.
MORE: Luke Walton accused of sexual assault, according to court documents
Tennant alleges that Walton pinned her down in a Santa Monica hotel room in 2014, held her arms down and groped and sexually assaulted her as she begged him to stop.
In a press conference with her attorneys, Tennant described how Walton invited her up to his hotel room after she asked to meet to give him a copy of a book she had just written.
Walton was an assistant coach with the Golden State Warriors at the time, but the two had known each other for years, she said. She had known his wife through playing volleyball tournaments and had met him about 10 years ago at one of those events. They also worked together in 2013 while he was a basketball analyst at Time Warner and she was a reporter covering the Lakers.
Walton, who is now head coach of the Kings, has denied the allegations. His attorney, Mark Baute, released a statement saying: "The accuser is an opportunist, not a victim, and her claim is not credible."
The Lakers have noted that the allegations relate to a time when Walton was not working for the team and they had no knowledge of the accusations while he was the coach.