Kings basketball president Geoff Petrie is still held in high regard by Kings ownership, but a contract extension is not imminent.
The New York Post reported Petrie was close to signing a new deal. That's not the case, said Kings co-owner Gavin Maloof.
"He still has another year and all I would say is we're happy with the direction of the team," Maloof said. "We feel what (head coach) Keith Smart is doing with the team is unbelievable and Geoff is orchestrating the whole thing."
Maloof said the Kings are becoming the team Smart said they would when he took over. The Kings are running more, scoring points and improving on defense.
The Kings are 17-30 this season, but already have 13 home wins after 11 all of last season.
Maloof said outside of a few "slip ups" on the last homestand, the Kings have been competitive most nights.
"Eventually it's going to translate into wins," Maloof said.