Update (6:57 p.m.): The Spurs officially signed Rudy Gay, as the team announced on their Twitter page.
Rudy Gay opted out of $14 million on his final year of his contract with the Sacramento Kings to become a free agent. The veteran small forward will make a lot less money with his new team.
On Thursday, Gay reportedly agreed to a two-year deal with the Spurs, according to ESPN's Adrian Wojnarowski. Gay's deal is for $17 million-plus over the two years, and it includes a player option.
In the 2016-17 season, Gay averaged 18.7 points and 6.3 rebounds per game.
He only appeared in 30 games after rupturing his left Achilles on Jan. 18 against the Pacers.
Warriors free agent Andre Iguodala is set to be a hot commodity once NBA free agency begins Friday night at 9:01 p.m. PT.
Iguodala, 33, is reportedly meeting with the San Antonio Spurs the moment he's allowed to, according to ESPN's Chris Haynes. The meeting will reportedly take place in Los Angeles.
Multiple Warriors are hitting the open market, including Stephen Curry and Kevin Durant. To bring back Iguodala, Warriors owner Joe Lacob is reportedly worried about the luxury tax moving forward.
Iguodala averaged 7.6 points, 3.4 assists and 4.0 rebounds per game coming off the bench this past season. The Warriors swept the Spurs in the Western Conference Finals.
It appears the LaMarcus Aldridge in San Antonio could be nearing its end.
The Spurs are reportedly talking to several teams about a potential trade, according to multiple reports.
In the summer of 2015, Aldridge signed a 4-year deal worth over $84 million.
He can opt out of his deal next summer.
The 5-time All-Star will turn 32 years old in July.
His 17.3 points and 7.3 rebounds per game this season were his lowest totals since his rookie campaign.
In Games 2 through 4 of the Western Conference Finals against the Warriors, he averaged 11.3 points and 5.3 rebounds and shot less than 39 percent from the field.
Aldridge's former team -- the Portland Trail Blazers -- would be interested in acquiring Aldridge, according to Jabari Young of the San Antonio Express-News.
Drew Shiller is the co-host of Warriors Outsiders and a Web Producer at NBC Sports Bay Area. Follow him on Twitter @DrewShiller