Rudy Gay (Toronto Raptors): Three years, $53.7 million (third-year player option)
Andrea Bargnani (Toronto Raptors): Three years, $32.2 million (third-year early-termination option)
DeMar DeRozan (Toronto Raptors): Five years, $41.3 million
Landry Fields (Toronto Raptors): Three years, $18.8 million

The acquisition of Gay is the most exaggerated example in the Raptors’ recent run of adding counterproductive contracts, but Gay’s cap hit is only so painful because of all that came before it. Lucrative extensions for the Bryan Colangelo-drafted Bargnani and DeRozan form the basis of the Raptors’ cap problems, while two flubbed mid-level signings (Linas Kleiza and Fields) only serve to exacerbate the gloomy outlook. Add it all up and you’re looking at a team that’s over the projected cap line through 2015, may pay the luxury tax in 2014 and is far from a contender. We have yet to see what Colangelo might get in a potential deal centered on Bargnani, but even a financially beneficial deal would leave the Raptors in more or less the same place, with a potential new deal for Kyle Lowry looming in 2014.

Gay’s contract alone would be tough for any team to handle, much less one so early in its team-building cycle. The Raptors didn’t have all of their core pieces in place, and now they’re left with that same, underwhelming foundation, a massive contract eating up much of their cap and hopes for the future pinned to Gay, DeRozan, raw big man Jonas Valanciunas and rookie wing Terrence Ross. There are worse places for a team to be, but that group — and the Raptors’ cap reality — don’t bode well for Toronto’s upward mobility.

http://nba.si.com/2013/03/06/worst-n...2_a6&eref=sihp

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Nothing really new for Raps fan, who have long moaned about the cap hits associated with Demar's extension, Fields and Bargnani in general, and the Gay deal was widely known as an over-pay since the day he signed the extension.