Rudy Gay would have gotten max contract offers anyway. Too many teams floating around with money -- NJ, NY, Chicago, Minnesota, LAC and Cleveland.
The Grizzlies had nothing to gain by waiting. Better to keep their player happy and make him feel appreciated. He was going to get the offer either way. The only decision left to make was whether they were willing to pay that much or not.
But doesn't that give Gay too little credit? That he wouldn't be able to keep a proper perspective on NBA business - as say restricted free agents David Lee and Paul Millsap did last season? Not all front offices are as tone deaf as the Hawks'.
Or failing that hard to believe Gay wouldn't put hard feelings behind him at some point over the course of his five year, $82 million dollar contract.
And while there was noise about the Clippers' interest, I'm not sure if they, or other clubs, would have been willing to tie up the bulk of their cap space for seven days early in free agency on a long odds signing.
But I see your point, and if we assume your right, then I'd still argue Wallace's next best option was a sign and trade, rather than going the Knicks/Allan Houston route. And either way, badly overpaying Rudy makes the team's miserly tactics since all the more dumbfounding.