Memphis is an up & coming team & had a good 2009-'10 season. Rudy Gay is their main man ably supported by O.J. Mayo & veteran Zach Randolph. Good move in my opinion. Now, if they can only get Amare & Kirk Hihnrich, they will really be competitive.
I dunno, I think that the Rudy Gay signing means that they're gonna be mediocre for a long time. Rudy still has some potential, but giving a max contract to a guy who's never been an all star and has never in the playoffs is always a bad idea. If you think about it, they're giving Gay the kid of money they didn't want to spend on Pau Gasol a few years back. He doesn't seem to mesh very well with Mayo too. He's a $10-12mil guy at best.
The unofficial signings so far:
Joe Johnson - ATL $127m 6 yrs
Rudy Gay - MEM $81.6m 5yrs
Amir Johnson - TOR $34m 5 yrs
Drew Gooden - MIL $32m 5yrs
Channing Frye -PHO $30m 5 yrs
Darko Milicic - MIN $20m 4yrs
All of them are overpaid, although Frye and Gooden's midlevel deals are a bit reasonable.