"We've been talking; we've been talking," Smith told the newspaper. "That's all I'm going to say."
The Kings selected Smith sixth overall in the 1987 draft. He averaged a career-best 17.3 points in 1988-89 but was traded to the Atlanta Hawks the following season.
Among the candidates new Kings owner Vivek Ranadive has interviewed to replace the outgoing Geoff Petrie are Memphis Grizzlies general manager Chris Wallace, former Indiana Pacers president Larry Bird and former coach and executive Mike Dunleavy.
The Kings reportedly have also been granted permission to interview Denver Nuggets vice president of basketball operations Pete D'Alessandro.
Sources close to the process have told ESPN.com's Marc Stein that Wallace is considered the early leader in the search process.
The sale of the Kings from the Maloof family to Ranadive's group closed last month. The Kings then announced that coach Keith Smart would not return and have since hired former Golden State Warriors assistant Mike Malone as their new coach.
Smith, a longtime analyst with TNT Sports, told USA Today he's "been winning my whole life" and is looking at coaching and front-office positions seriously this offseason.
"Honestly, I've been looking at both -- coaching, and a lot of things have been coming these last couple of years, and this time I've been taking it serious," he told the newspaper. "My kids are at an age where I feel comfortable. And the other years, the kids were just too young. I didn't want to be in it. But I just started taking it serious."
The 48-year-old Smith retired from his playing career after the 1996-97 season. In 10 seasons with Sacramento, Atlanta, the Houston Rockets, the Detroit Pistons, the Orlando Magic and Denver, he averaged 12.8 points and 5.5 assists. He won two NBA titles with Houston (1994, '95).