Hill, 31, has extended his contract by three years ahead of his 250th game, while King’s plans beyond his current deal remain uncertain.
The 24-year-old forward has faced intense scrutiny this year and is now out for the rest of the season due to a knee injury.
This recent setback coincides with reports that the Saints have offered King a long-term extension beyond his current contract, which expires in 2026.
“I’m not fully aware of the contract details, but I know we’re engaged in talks,” St Kilda coach Lyon said on Thursday.
“We’re very confident that Max will remain with St Kilda for the long term, and that’s what we want.”
King, who has scored 159 goals in 83 games, won’t play again until next year.
He tore his posterior cruciate ligament in his left knee during a loss to Port Adelaide last month, adding to a series of significant injuries throughout his career.
King continued his rehabilitation privately while his teammates trained at RSEA Park on Thursday, briefly appearing with a large brace on his left leg to sign autographs for fans.
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