As it turns out, the Miami Heat has been on the clock for days, with time already growing short with its decision on how to handle the offer sheet extended by the Cleveland Cavaliers to restricted free agent forward Jamario Moon.
While word of the offer sheet did not come out until Sunday, the Heat actually received the offer sheet Friday evening.
Teams have seven days to decide whether to match such an offer or lose the player. That deadline for the Heat, therefore, is this coming Friday.
The Heat is expected to bypass matching the offer, since the multiyear contract would conflict with the desire of Heat President Pat Riley to maximize the team's salary-cap space for 2010 free agency.
During the waiting period, the parties involved, in this case Moon, the Cavaliers and the Heat, can work on alternate contract options and the offer sheet can be withdrawn.
However, should the Heat match the offer sheet, it then would not be able to trade Moon until mid December, and then only with his permission for one year.