It would seem the rumours of Ian Robilliard stepping down as Kings CEO were wrong given the Kings press release for the axing of Kevin Smith today:
The Sydney Kings has, by mutual agreement, released Kevin Smith from its playing roster for the forthcoming 2012 - 2013 NBL season.
Chief Executive Officer, Mr Ian Robilliard, made the announcement today following finalisation of Kevin's contract with the Sydney Kings.
"While there will be obvious disappointment that Kevin’s time with the Sydney Kings was short, this is the nature of all sports, including basketball," Robilliard said.
“We are pleased that the club was able come to an arrangement with Kevin where he is released from his Sydney Kings’ contract and all parties remain on friendly terms,” he added.
http://www.nbl.com.au/kings-shortcut/news/article/2012/september/sydney-kings-release-kevin-smith-via-mutual-agreement/