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NBA free agency: Rudy Gay heading to Spurs, Kelly Olynyk joining Heat

NBA free agency: Rudy Gay heading to Spurs, Kelly Olynyk joining Heat
Kings forward Rudy Gay pulls down a rebound against Lakers forward Larry Nance Jr. during a game last season. (Rich Pedroncelli / Associated Press)

The San Antonio Spurs have signed veteran forward Rudy Gay while the Miami Heat have agreed to terms with Kelly Olynyk.

Gay averaged 18.7 points last season in Sacramento but was limited to 30 games when he ruptured his left Achilles' tendon in January and having surgery a few days later. Terms of the deal announced Thursday were not disclosed.

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The 6-foot-8 Gay has averaged 18.4 points in 753 career games. The No. 8 pick in the 2006 draft out of the University of Connecticut joins LeBron James and Russell Westbrook as the only players with at least 13,000 points, 4,000 rebounds and 1,000 steals since 2006. He also has won a pair of world championships with the U.S.

Agent Greg Lawrence confirmed the Heat's decision to the Associated Press. ESPN reported Olynyk will sign a four-year deal worth in excess of $50 million. The deal has not been signed, though could be as early as Friday.

A 7-foot center with three-point range, Olynyk spent his first four NBA seasons with the Boston Celtics and played mostly as a reserve. He averaged 9.5 points in 278 regular-season games shot a career-best 51% last season.

Olynyk's deal means that for the Heat to complete the re-signings of James Johnson and Wayne Ellington — who are both still wanted by Miami — a deal will have to be swung to get rid of some salary and create more cap space. Josh McRoberts, who has played in only 81 games during his three injury-plagued seasons in Miami, would be the most likely candidate for a trade.

In other NBA news:

-- Dirk Nowitzki has a deal with the Dallas Mavericks that sets him up to join Kobe Bryant as the only players to spend 20 seasons with one NBA franchise. Nowitzki and the Mavericks have agreed on a two-year, $10-million contract that carries a team option in the second season. The 39-year-old Nowitzki is no longer the primary option for the Mavericks, so a $5-million deal is more in line with his role on a roster that has become significantly younger since the start of last season.

-- The Indiana Pacers have waived backup guard Monta Ellis. He had played the last two seasons in Indiana, averaging 11.3 points and 4.0 assists in 114 games. By releasing the 12-year veteran, who still had two years on his contract, Indiana saves about $9 million on the salary cap and won't have to pay next season's salary.

-- The Denver Nuggets agreed to a multi-year deal Thursday with rookie Tyler Lydon. The forward from Syracuse University was acquired on draft night as part of a deal with Utah that also included forward Trey Lyles. The Nuggets sent the 13th pick to the Jazz. Lydon, selected with the 24th overall pick, averaged 13.2 points and a team-high 8.6 rebounds last season for Syracuse.

-- The Milwaukee Bucks have acquired the rights to sign rookie Sterling Brown from the Philadelphia 76ers for cash considerations. Brown, a 6-6 guard from Southern Methodist, was the 46th overall selection in last month's NBA draft.

-- The Phoenix Suns have signed second-round pick Davon Reed. The 6-6 guard from Miami was selected 32nd overall, Reed averaged 14.9 points, 4.8 rebounds, 2.4 assists and 1.3 steals in 33 games for the Hurricanes as a senior.

-- The Memphis Grizzlies are planning to retire the No. 50 jersey worn by Zach Randolph, who is leaving the team after eight seasons to sign with the Sacramento Kings. In a tweet on the Grizzlies' official account , majority owner Robert Pera says that No. 50 "will never be worn by another member of the Memphis Grizzlies."

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