Rudy Gay will re-sign with Memphis Grizzlies, AP reports

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The Associated Press is reporting Memphis forward Rudy Gay has agreed to a five-year max contract to remain with the Grizzlies, according to an unnamed source who said Gay would make more than $13 million per season.

Gay, a 23-year-old restricted free agent, had been scheduled to visit the Minnesota Timberwolves on Thursday and also was lining up meetings with the New Jersey Nets, New York Knicks and Miami Heat but the Grizzlies offered more money than any of those other teams could

He averaged 19.6 points and 5.3 rebounds in his fourth season with the Grizzlies last year.

-- Chuck Schilken

The Associated Press contributed to this report.