According to a person with knowledge of those conversations, Gay is likely to remain a Grizzly through the end of this season. The message to Gay at the moment is that if he is dealt by the league's Feb. 21 trade deadline, then the Griz will have been offered a no-brainer scenario.
For example, the Griz have entertained the Washington Wizards' offer for Gay. The crux of that exchange would have the Griz receiving rookie shooting guard Bradley Beal in a larger package. The proposals for Randolph have been even weaker.
None of the potential deals has merit because they aren't believed to be strong enough to keep the Griz on their current pace.