Honestly, I kinda disagree with their assessment of 5 million a year unless it's one of those deals where the last years guaranteed salary is so high it brings the earlier years up in average. I was thinking he'd sign a 4 year 16 million dollar deal, 4 in bonus and last year 5.5 million in base so in reality it makes it a 3 year 10.5 million deal with about 5 million guaranteed. I guess we will see in the next few days or maybe even hours.
This is what I guess it should go more or less: 20M/4Y, structured as follows 4M in 2016, 4,5M in 2017, 5,5M in 2018, 6M in 2019. 6 millions guaranteed (1.5M each season) so if he gets cut on 2018 he'd only cost 1,5M that season and 1,5M next season as cap hits.
2016 2,5M Base Salary, 1,5 prorated bonus
2017 3M Base Salary 1,5 prorated bonus
2018 4M Base Salary, 1,5 prorated bonus
2019 4,5M Base Salary 1,5 prorated bonus
this estimate comes from Mike Mitchell's contract 25M/5Y, 5M guaranteed (then the FO reestructured his contract to convert 3,225M to signing bonus lowering his cap hit in 2014). He got that deal two offseasons ago being a splash signing for a young on the raise player. Gay is a proven vet but on the decline as he's already 31 so we can expect two good years left from him on which he'll cash out 8,5 millions and then 3 more millions if cut, totalling 11,5M for two years of work. That's more than fair for him and not a cap killer for the team