The Raptors received Greivis Vasquez as part of the seven-player trade deal, but Gay is optimistic about the future of his new team.
"Excited to say the least," ESPN quotes him as saying.
"I have a couple guys with me that came with me. It's a new beginning. I've been saying it all day. They have a lot of young pieces and I'm glad to be a part of it."
Gay will undergo physical tests on Tuesday and could be available for selection against Utah on Wednesday.