One of the most interesting things I got out of Jerry Reynold's most recent interview with the Rise Guys was his assertion that Jason Thompson has been possibly the most misused guy in Kings history. We've known for a while now that the Kings are interested in trading Jason Thompson, and we've also known that Thompson himself is probably rooting for that to happen as well.
Thompson is the longest tenured King, and in fact just needs 59 more games in a Kings uniform to be the longest tenured Sacramento King ever. During his six seasons with the Kings, Sacramento has never once won 30 games. There have been 5 coaches, two relocation attempts and an ownership change. To put it mildly, Thompson's time in Sacramento has been chaotic, and it's easy to see why he'd be frustrated.
Unfortunately for both Thompson and the Kings, trading him isn't exactly simple. He's got a guaranteed year left after this one and then another partially guaranteed year after that. His contract also contains a 5% trade kicker, making his salary even higher for the team that gets him. As such, it wouldn't surprise me at all if Thompson is still on the opening day roster.
This isn't to say that's a bad thing. Jason Thompson can be a very useful player if used correctly. He's also the only player on the Kings roster aside from DeMarcus Cousins that can play Center reliably for longer periods of time. He's a decent individual defender, although his team defense often leaves something to be desired (six years of bad habits and bad coaching don't go away quickly). He can play both in the low post and high post and he runs the floor very well. It's quite possible that with Darren Collison at the helm and a "push the pace" system that the Kings are seemingly wanting instituting that Thompson could be reinvigorated and actually become a valuable roleplayer.
You can't trade someone unless somebody wants him, and Thompson isn't exactly a hot commodity. His contract also isn't bad enough that it outweighs his potential usefulness to the roster (meaning we shouldn't trade him just to trade him). Thompson brings things our other bigs don't, and the Kings will need a way to replace those qualities if they do in fact trade him.
So no, I don't think it's too late for the Kings and Thompson, if only out of necessity.