Sacramento Kings forward Rudy Gay will exercise his $19.3 million contract option for the 2014-15 season, but has tabled extension talks until later this summer, league sources told Yahoo Sports.

The re-signing of Gay is a top priority for the Kings. Team management and Gay's agent, Alex Saratsis of Octagon, are expected to re-engage discussions in the near future, sources said.

After July 1, the Kings and Gay will be able to negotiate a full four-year contract extension. Gay has been in constant contact with Kings management, and has been impressed with new owner Vivek Ranadive's commitment to constructing a contender, sources said.

The Kings consider Gay a cornerstone of the franchise's future and prolonging the process on extension discussions gives him a chance to further evaluate the team's progress on improving the roster before he fully commits to a deal. If Gay is unable to complete an extension in the next year, he'll become an unrestricted free agent in the summer of 2015.