Earlier today in his farewall to Brandon Bass post, Coup asked “How long does it take to “prepare” an offer to Paul Millsap?”
The answer: not that long.
ESPN.com’s Chris Broussard broke the news about 10 minutes ago. Here’s exactly what he said:
The offer includes a hefty signing bonus that will make it difficult for Utah to match. The Jazz will be presented with the offer Saturday and have seven days to match because Millsap is a restricted free agent.
Nothing much to add to it as we play the waiting game. I myself am pleased that this is finally going down. Although I’m a bit fearful that with KP’s luck, the Jazz match leading us to move to the Spanish alphabet to find more letters for the next plan. Also glad to get some stronger feelings that all this Millsap talk isn’t just to get Kirk Hinrich. And that people will finally stop talking about Bayless for Hinrich (aka pure idiocy). Or Brandon Roy not wanting to stay in Portland. Or LaMarcus being unhappy. Lowkey, people are freaking out worse than Jessie Spano on caffeine pills.
UPDATE 7:42 ET: Just to clear up some issues on the effect an offer sheet has on Portland’s cap space, here’s two sections from the NBA Salary Cap FAQ:
There can be no compensation given to a team in return for their not matching an offer to a restricted free agent. For example, Houston could not sign Golden State’s restricted free agent, then send Golden State a draft pick in exchange for their not matching the offer and retaining the player.
…and the team’s cap room is tied up while the offer sheet is outstanding
This essentially means the Blazers can’t do anything involving the Jazz during the seven days Utah has to match the offer sheet (so no three-way trades to get Boozer to Chicago and Hinrich to Portland) and can’t make any deals that would make use of their cap space. So unless they find a balanced deal they like somewhere (and Blake/Outlaw for Hinrich doesn’t sound likely anymore), the next seven days will be quiet. Of course, I still believe Paul Millsap has to actually sign the offer sheet, too.
UPDATE: Millsap has officially signed the offer sheet. T-Minus 7 days and counting. (via Blazers.com)
UPDATE SATURDAY: Forgot to mention one important thing yesterday, a deal can be made in the next 7 days because the CBA allows an offer sheet to be taken back, if both teams and the player involved agree to it. So if Millsap agrees to void the deal in lieu of a trade worked out between Portland, Utah and whomever else, it can be done, just more than a few people need to sign off on it.