A former NBA executive agreed Wednesday to a plea deal in which he admitted to diverting millions in corporate sponsorship funds, including $9 million from the $12.1 billion Golden 1 Credit Union, to pay for beachfront properties, a private jet membership and credit card bills.

Jeffrey R. David, 44, the Sacramento Kings’ former chief revenue officer and a former NBA executive, is scheduled to appear before a U.S. District Court judge in Sacramento, Calif., on Dec. 26. He has agreed to plead guilty to wire fraud and aggravated identify theft.