Sloan survived, but Carter later died from his injuries.
Knight's plea, which was unveiled in a Los Angeles courtroom, came just days before he was to stand trial for the death of 55-year-old Terry Carter, who was run down outside an LA restaurant in 2015.
Several sources tell us the former Death Row Records exec will be in L.A. County Superior Court Thursday afternoon to enter a plea in the murder of Terry Carter.
Marion "Suge" Knight (R) and his attorney Thaddeus Culpepper appear in court for a pretrial hearing at the Clara Shortridge Foltz Criminal Justice Center on 26 February 2016 in Los Angeles.
Former rap mogul Marion "Suge" Knight pleaded no contest Thursday to voluntary manslaughter and after he ran over two men, killing one, almost four years ago.
In 1997, he was sentenced to nine years in prison after violating his probation stemming from an earlier assault charge.
As part of the agreement, the murder charges against Knight, 53, will be dismissed by prosecutors, along with separate criminal cases charging him with robbery and making criminal threats. The incident was captured on videotape by the restaurant's surveillance cameras.
Suge Knight sentenced to 28 years in prison
Knight and N.W.A. member Andre "Dr. Dre" Young founded the wildly popular Death Row Records label together in 1991.
That scuffle in September 1996 took place hours before Shakur was shot to death in a drive-by attack while riding in a vehicle with Knight after a Mike Tyson boxing match.
However, Knight will get credit for time served, knocking down his sentence to about 25 years. He also would receive an additional five years because the conviction was for a serious and violent felony and a year for the deadly weapon allegation. Shakur's slaying remains unsolved.
Knight was released from prison in April 2001.
These current charges carried had Knight staring down the barrel of a life sentence without the possibility of parole.
In addition to being injured in the Shakur slaying, Knight was shot and wounded during a party at a Miami Beach nightspot in 2005 and in 2014 at a West Hollywood nightclub.