Newcastle United must be happy they did not stump up the big money to sign the then-Burnley ace.
The former Burnley hitman was linked with a move to St James's Park this past summer but Watford wound up paying the extortionate fee (figures provided by BBC Sport) and winning the race for his signature.
Two months on and Newcastle supporters might well be even more delighted based on the fact that Gray hasn't exactly set the Premier League alight this season.
The 26-year-old has managed just the one goal in eight appearances for the Hornets this season - seven of those were in the Premier League, and five from the start.
There is nothing to stop Gray from embarking on a Harry Kane-type run of form from this weekend onward, but he only managed nine league goals for the Clarets last season so Newcastle fans need not worry about that prospect.
But fans of the St James's Park club can't be overly celebratory when it comes to Gray's woes......because they wound up with Joselu.
The Spanish striker cost the Magpies £13.5 million less than the Englishman and although he has twice as many goals as Gray, he hasn't looked the part as of yet.
The Newcastle forward has two Premier League goals but it could and would be about five or six if the former Stoke City man could finish.
Nevertheless, he, like Gray, certainly has time on his side to prove his critics wrong, but failure to do so means it wouldn't be a huge loss based on the fact he wasn't bought for huge money.