Rudy Gay Takes Huge Pay Cut

Rudy Gay is heading into his 16th season in the NBA, and for the last 13 seasons, he's averaged about $14 million per year, including his expiring 2-year deal with the San Antonio Spurs that paid him $16 million annually. Being pretty financially set, Gay was fine to accept a ten million dollar pay cut to sign a two-year deal with the Utah Jazz, to try and compete for a championship.

Rudy Gay is signing a two-year, $12.1M deal with the Jazz, with a player option, per @ShamsCharania pic.twitter.com/UH9zu1mXih
— NBA on TNT (@NBAonTNT) August 3, 2021

Gay has signed a 2-year, $12 million dollar contract, using the Jazz' taxpayer mid-level exception, according to NBA insider John Hollinger.

The 35-year-old Gay will replace forward Derrick Favors, whom the Jazz unloaded to Oklahoma City last week to free up some cap room. Gay spent the last four years with the Spurs, and averaged 11.4 PPG this past season while shooting 38% from the three-point line.

Gay spent his first 6 1/2 years in the NBA with the Memphis Grizzlies, and coincidentally was a teammate back then of current Jazz point guard Mike Conley, who just re-upped with Utah for 3 more seasons.