After a huge win against the NBA champion San Antonio Spurs Saturday night, the Sacramento Kings have given their fan base another reason to cheer today. Cowbell Kingdom has confirmed through a league source that Rudy Gay has reached an agreement on a three-year, $40 million extension to remain with the Kings.
The final year of Gay’s new contract is a player option, that will allow the 28-year-old forward the opportunity to re-enter the free agency market after the NBA’s new television deal is in full effect.
Gay is in the final year of a five-year, $82 million deal that he signed with the Memphis Grizzlies in 2010.
Sacramento Kings general manager Pete D’Alessandro took a gamble when he traded for the high-priced wing last December. Not only was Gay mired in a shooting slump in Toronto, but his $19.3 million salary was a player option.
Sacramento went on the offensive this summer and ultimately convinced Gay to opt in to the final year of his deal, but negotiations on a new contract were put on hold before Gay joined Team USA for their gold medal run in Spain at the World Cup.
Gay’s extension became a high priority for Sacramento after the Kings got off to a fast start this season. With their starting small forward now under contract long-term, the Kings have eliminated a potential major in-season distraction.
Gay enters Tuesday’s contest against the New Orleans Pelicans averaging 22.5 points, 6.8 rebounds and 3.5 assists in 37 minutes a night. His 22.0 PER (Player Efficiency Rating) is the highest of his nine-year career, and he has found a home next to star center DeMarcus Cousins.
The Kings now have their core of Gay, Cousins, Darren Collison, Ben McLemore and Nik Stauskas under contract through the 2016-17 season when they move into their new arena in the heart of Sacramento’s downtown district.
Adrian Wojnarowski of Yahoo! Sports was first to break this story.
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