Update (6:57 p.m.): The Spurs officially signed Rudy Gay, as the team announced on their Twitter page.
Rudy Gay opted out of $14 million on his final year of his contract with the Sacramento Kings to become a free agent. The veteran small forward will make a lot less money with his new team.
On Thursday, Gay reportedly agreed to a two-year deal with the Spurs, according to ESPN's Adrian Wojnarowski. Gay's deal is for $17 million-plus over the two years, and it includes a player option.
In the 2016-17 season, Gay averaged 18.7 points and 6.3 rebounds per game.
He only appeared in 30 games after rupturing his left Achilles on Jan. 18 against the Pacers.
Free agent forward Rudy Gay has agreed to a two year deal with the Spurs, league sourcs tell ESPN.— Adrian Wojnarowski (@wojespn) July 7, 2017
Sources: Rudy Gay's deal with the Spurs: two-years, $17M-plus with a player option.— Adrian Wojnarowski (@wojespn) July 7, 2017