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Report: Kings, Gay agree to $40 million extension

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The Sacramento Kings and small forward Rudy Gay reached an agreement on a three-year, $40 million contract extension, Yahoo Sports reported Sunday.

Gay has one year left on his current deal, which will pay him $19.3 million.

Gay is averaging 23 points per game on 45 percent shooting. He is also averaging 6.8 rebounds and 3.5 assists.

The extension kicks in starting next season before the NBA’s new lucrative TV deal.

The extension still allows the Kings to stay well below the salary cap, which is expected to increase in 2016 with the new league TV deal. Gay can opt out in 2017.

Up to the minute news and reports from the news wire of The Sports Xchange.

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