Gay was slated to make $14.2 million in the final year of contract with the Kings next season, but he plans to opt out prior to the June 10 deadline.
The 11-year NBA veteran averaged 18.7 points and 6.3 rebounds in 30 games with the Kings last season before suffering a season-ending complete tear of his left Achilles tendon on Jan. 18 against the Indiana Pacers. Montgomery said that Gay is "ahead of schedule" as he has passed the initial rehabilitation stage, was cleared medically to begin weightlifting and is expected to be back on the court by mid-June.
Gay told The Undefeated before last season that it wouldn't be "rocket science" to opt out of his deal with the rebuilding Kings. That proclamation became less certain after the 6-foot-8, 230-pounder suffered the Achilles injury. Now the 30-year-old expects to be ready for training camp and is open to talking to any teams, including the Kings, a source said.