Jason Jones recently spoke to Geoff Petrie about the offseason and got this response:

To me, this reads that the Kings don't want to take on long-term salary and will likely not be making any big Free Agent signings (not that there are any big contract Free Agents left) or acquiring big contracts without giving big contracts (Salmons/Garcia/Hayes) in return. By my calculations, the Kings have about $5.3 million in cap space. They could either spend that much on a Free Agent, or use that space to acquire a bigger contract in a trade. After the jump, a few of the better remaining options in Free Agency and possible trade acquisitions that could fill Geoff Petrie's criteria of team needs.

(Clicking a player's name will take you to their Basketball-Reference page)

Free Agents:

Trade Possibilities (Not including contracts over $10 million unless it's just 1 year due to Maloofiness of Kings):