The clock finally began ticking toward resolution on a great number of NBA fronts Thursday, when the Houston Rockets officially received a three-year, $45 million offer sheet from the Dallas Mavericks for restricted free agent Chandler Parsons. The Rockets now have three days to decide whether to match the offer sheet and keep Parsons, or decline to match and allow Parsons to go to the Mavericks.
The Parsons sheet, which includes a 15 percent trade kicker (meaning if either Houston or Dallas trades him during the life of the contract, he’s due an additional 15 percent of his remaining salary) and a player option after the second year, was signed early Thursday morning.
Houston’s now facing a dilemma. The Rockets have moved to create enough cap room to make a maximum contract offer to Miami unrestricted free agent Chris Bosh, with trades that would send Omer Asik to New Orleans and Jeremy Lin to Philadelphia for future Draft picks. Those trades can now be carried out with the expiration Thursday of the July Moratorium on all contract signings and trades.
Once those deals are finalized, Houston can offer Bosh a max deal for four years and almost $90 million.
The problem for the Rockets is that if Bosh doesn’t agree to sign with Houston in the next three days, the only way Houston can match the Mavericks’ offer sheet for Parsons is to use the cap room it is saving for Bosh. If Bosh does agree to sign with the Rockets, Houston can exceed the cap in order to match the offer sheet and keep Parsons. But that is the sequence that must take place.
Houston had indicated it would match any sheet for Parsons, and the Rockets may well match this one. But it may cost them a chance at Bosh, which Houston views as the perfect power forward to play alongside Dwight Howard and James Harden.
And the Rockets, of course, are further hampered because Bosh has expressed a preference to continue playing with LeBron James. But Bosh may not know where James is going to play next season in the next 72 hours, as James decides whether to return to Miami or go home and play with the Cavaliers, the team that drafted him first overall in 2003 and that is near his Akron hometown.
The Rockets tried to work out sign-and-trade scenarios with the Mavericks for Parsons before they officially received the offer sheet. But once Houston was given the paperwork, under league rules, it could no longer entertain sign and trade possibilities. The Rockets can now only match or not match.
If the Rockets do match, they won’t be able to trade Parsons for one year without his consent, and they can’t trade him to the Mavericks at all. Nor can his contract be reworked in any way.
The option year is especially vexing to the Rockets and owner Les Alexander, according to a source. They couldn’t trade Parsons without his okay during the first year as stated above. That would leave them only one season with him before he could potentially become an unrestricted free agent — the same summer that Howard could opt out and be unrestricted. Howard and Parsons share the same agent, Dan Fegan.
This scenario unfolded after the Rockets declined their 2014-15 team option on Parsons, making him a restricted free agent. If the Rockets had picked up that one-year option, Parsons would have become an unrestricted free agent in 2015, able to sign anywhere. The reasoning behind that decision was that even though Parsons could get offer sheets in 2014, the Rockets planned to match anything. And it gave the team time to try and sign Parsons to a long-term deal before he hit unrestricted free agency.