Knight pleaded no contest to voluntary manslaughter, with a special allegation that he used a deadly weapon.
Carter's daughter Crystal called Knight "a disgusting, selfish disgrace to the human species".
Four days before the scheduled start of his trial last month, the Death Row Records co-founder struck a deal with prosecutors, pleading no contest to running over and killing 55-year-old businessman Terry Carter and capping a dramatic, protracted legal saga.
He helped launch some of rap's biggest acts, including Dr. Dre, Snoop Dogg and Tupac Shakur.
While every accepted chronology of Shakur's last hours on September 7 place him at a Mike Tyson fight at the MGM Grand in Las Vegas, later getting into a auto with Knight.
If you were born after 2001 then you probably have never scoured through the dregs of the internet for conspiracy theories about what happened to Tupac Shakur, one of the best rappers ever, who was tragically killed while driving with Suge Knight in Vegas in 1996.
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Knight was convicted of armed robbery and assault with a gun during his time with the label, which is widely seen as having contributed to its decline.
In January, 2015, Knight had been fighting with a longtime rival, Cle "Bone" Sloan, through the window of his pickup truck outside the burger stand near where promotional filming was being done for the N.W.A. biopic "Straight Outta Compton".
Knight, a Compton native and former football player, co-founded Death Row Records, which in its heyday in the early 1990s was generating revenues of about $100 million per year.
The agreement also cleared Knight in two other cases, both from 2014.
Voluntary manslaughter would normally bring a sentence of 11 years in prison, but Knight's conviction along with his previous felonies triggers California's three strikes law. He was accused of stealing a camera from a woman and of sending threatening text messages to Straight Outta Compton director F. Gary Gray.