Gay confirmed to The Undefeated that he has informed the Kings that he will exercise a clause in his contract to become an unrestricted free agent in the summer of 2017 and depart. Gay will make $13.3 million next season and has a $14.3 million player option for the 2017-18 season. Gay has long been frustrated with the struggling and ever-changing Kings, who have not made the playoffs in 10 years.
"It's not rocket science," Gay, 30, told The Undefeated on Monday about his decision.
ESPN.com's Marc Stein reported on July 8 that Gay has emerged as one of the most established NBA veterans available via trade, according to league sources. Stein also reported that the Kings are actively seeking to move Gay as well as big man Kosta Koufos and guard Ben McLemore.
Gay averaged 17.2 points and 6.5 rebounds for the 33-win Kings last season. Other small forwards on the Kings' roster include Omri Casspi and newcomer Matt Barnes.
The Vertical first reported Gay's decision.