Sheffield Wednesday are expected to be particularly active in the summer transfer window.
Wednesday have a number of players who could leave Hillsborough in the next few months, with a sizeable amount of their squad seeing their contracts expire in the summer, and Gray says that they will need to prove what they can offer over the remainder of the season.
It should ensure that the Owls do not switch off, despite them looking set to finish in mid-table, and Gray will be hoping that his team rise to the challenge, rather than falter under the pressure.
“We have a lot of players out of contract but it doesn’t worry me at all," he said. “I had to rebuild the team last season. It is part and parcel of football. The players can’t allow any complacency to creep in because they are playing for their livelihoods.
“They should all be fighting and scrapping to get re-signed by Sheffield Wednesday."
Expectations at Wednesday will be raised over the summer and it means that Gray is only likely to keep hold of the stand-out players in his squad.
The takeover of Dejphon Chansiri means that Wednesday now have funds to spend and they are set to be among the favourites for promotion next season.
Gray has already set the foundations for them to build on, with Wednesday boasting one of the best defensive records in the Championship.
The main area for improvement will need to be in their goalscoring, though, and the side's forward players are likely to be under pressure to start hitting the net, otherwise they could find themselves heading out of the exit door at Hillsborough sooner rather than later.