The Grizzlies have restarted talks with Rudy Gay about a possible contract extension, sources told Yahoo! Sports.

Gay's agent, Jeff Austin of Octagon, traveled to Memphis on Friday to meet with Grizzlies general manager Chris Wallace.

Austin wrote in an email to Yahoo! Sports that it's "too early to tell if anything will come of it."

League sources have indicated that Gay is looking for a five-year contract in the $50-60 million range.