The Wizards have received a signed offer sheet to match from Otto Porter and the Brooklyn Nets after the free agency moratorium lifted on Thursday, and they'll have 48 hours to match it or lose their No. 3 overall pick from 2013.
The Nets put up a $106 million offer sheet over four years for Porter, who is coming off his best season as a pro in Washington.
Porter initially discussed offer sheet from the Sacramento Kings when free agency opened July 1 but didn't walk away from their meeting with one.
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The Kings eventually spent $81 million on George Hill and Zach Randolph to eat up their cap space and they had to withdraw their offer sheet. A team must have the adequate cap space upon extending the offer sheet.
The Nets are at $64 million with the cap set at $99 million so they have to spend to meet the cap floor (90%). They could find themselves in a similar position as Sacramento, however, with money to spend and needing to act to improve rather than wait for a player who might be off the table if the Wizards match.
The expectation for months is the Wizards will indeed match the offer to retain Porter.
Adrian Wojnarowski of ESPN first reported the news.
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