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The deal would’ve seen Simmons sent to Sacramento alongside 76ers teammates Thybulle and Tobias Harris in exchange for Tyrese Haliburton, Harrison Barnes and Buddy Hield of the Kings, as well as two first-round picks.
However, sources close to the deal reveal the Sixers weren't interested, despite the prospect of a disgruntled Simmons spending the entire NBA season on ice.
Simmons' representatives met with the team in Philadelphia recently but the sit down ended with nothing settled and the demand for a trade from the All-Star point guard's camp remains intact.
Simmons hasn't played this season and an acrimonious split appears likely given tensions between him, head coach Doc Rivers and 76ers All-Star centre Joel Embiid.
Embiid called Simmons' position as a holdout a "slap in the face" and declared he'd no longer talk about Simmons or the trade rumours.
Team president Daryl Morey and general manager Elton Brand are reportedly insisting on equal value in any trade, and according to ESPN, the 76ers also upped the asking price by requesting teams take Harris' hefty contract in return.
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Thybulle has also been considered as "close to being untouchable" in trade talks, according to the Inquirer, as his value as an elite defender continues to grow.
The 24-year-old earned second-team All-Defensive honours last season despite playing limited minutes off the bench.
That application, alongside some impressive fast-break offence, ensured he was an instant hit in his Boomers debut at the Tokyo Games.
76ers fans have started to appreciate the Thybulle package too, the guard in the same statistical bracket defensively as superstars Draymond Green, Nikola Jokic and Giannis Antetokounmpo this season.