I can't imagine anyone would offer him that much for that long at his age. If so, we need to make sure we sign and trade because we should be able to fleece that GM for a great player.
I love Ray and would love him to retire here. The spacing, clutch FT and classiness he brings cannot be easily replaced. But he's not worth that contract especially considering how over the cap we are.
The thing is if he wants to stay here he has to honestly assess his own worth - not what other teams are offering or what other players have gotten - and sign a reasonable extension. I don't think the FO will lowball him or at least I hope not so they should be able to find something both sides can agree on.