A tentative agreement for a trade that would have sent the Indiana Pacers forward Ron Artest to the Sacramento Kings in exchange for Peja Stojakovic has been rejected, ESPN's Jim Gray reported Tuesday.

Gray reported earlier Tuesday that both teams had agreed to the trade, pending league approval. Then, according to Gray, Artest informed both teams he did not want to go to the Kings. In light of that, Gray reported, the Kings have decided to reject the trade.

Indiana coach Rick Carlisle said Tuesday night that the trade wasn't going to happen.

"There is no trade right now and there may not be a trade," Carlisle said before Indiana played the Cavaliers in Cleveland. "There's nothing to talk about because there is no trade."

"Anything involving speculation and 'what's up' can be saved for another time," Carlisle said. "If there is a trade at some point, you'll hear about it."

Pacers CEO/President Donnie Walsh issued a statement Tuesday echoing Carlisle's remarks.

"As I have said before, until there is a deal completed, we do not have a deal," the statement said. "We do not have a deal and will not comment on any premature reports regarding a trade involving Ron Artest."