Ledley King's contract is up and no one knows what his status is with the team. He has recently had another minor procedure on his knee and hopes to get back into the team for pre-season. King talked to the club website today and didn't make it clear whether or not he'll be playing for the team next year, but it appears that he'll be involved with the club in some capacity next season.
"I've been discussing things with the club and my contract expires this summer. The club has been fantastic in supporting me and given me several options to stay involved with Tottenham. I shall take a view with them pre-season on my future.
"Tottenham has been the only club for me and if I can't play here then I shall look to be involved in another capacity."
My best guess is that he's been offered pay-as-you-play and/or player-coach roles with the team. Obviously, I am guessing, so take that with a grain of salt. Whether or not he returns to the pitch, King's made it pretty clear that he's not going anywhere, and that's awesome to hear from a club legend.