The founder of Death Row Records made the statement to avoid charges of murdering a man and attempting to assassinate a second with his pick-up truck in Los Angeles.
Knight will be formally sentenced to 28 years in prison in October.
His record label helped launch the careers of artists such as Dr Dre, Tupac Shakur and Snoop Dogg.
The 2015 incident occurred after a discussion about the creation of Straight Outta Compton, a biopic about the NWA rap group.
Under California state law, a declaration of non-competition is the legal equivalent of a guilty plea
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