Carter died from his injuries.
The deal, which was presented in Los Angeles County Superior Court on Thursday, puts to bed a murder case that was almost four years in the making.
The deadly confrontation occurred on January 29, 2015, outside a hamburger stand in the Los Angeles suburb of Compton, following a heated argument on the set of a commercial for the film "Straight Outta Compton".
Former rap mogul Marion "Suge" Knight pleaded no contest Thursday to voluntary manslaughter for running over and killing a Compton businessman. The 28 years sentence is extraordinarily stiff for a guilty plea for manslaughter.
On Thursday, Knight requested a new attorney, who would be the 15th in the case. Knight was indicted for making criminal threats in August 2014.
Knight had also been charged one count of hit-and-run. The incident was captured on videotape by the restaurant's surveillance cameras.
Knight cracked a joke. of sorts.
At its peak, Death Row Records racked in hundreds of millions of dollars a year on the backs of artists like Dr. Dre, Snoop Dogg, and Tupac Shakur.
Knight was the one driving the vehicle the night that Shakur was murdered in a drive-by shooting in 1996. In 1997, he was sentenced to jail for violating that probation after participating in an altercation in Las Vegas that culminated hours later in the fatal shooting of Tupac Shakur while he rode in Knight's vehicle. The Death Row founder will be credited time served for the 3 1/2 years he spent in jail leading up to his sentencing. Shakur's slaying remains unsolved.
Suge Knight is going to prison.
Prosecutors said Knight was upset over not being paid for the use of his likeness in the film.