The Houston Rockets are still strongly considering the Dallas Mavericks' offer sheet for Chandler Parsons after reaching agreement on a four-year, $32 million contract with free-agent forward Trevor Ariza, league sources told Yahoo Sports.
Ariza's contract is on a declining scale, paying him $8.6 million, $8.2 million, $7.8 million and $7.4 million over the next four seasons, sources said.
The Rockets are expected to take until 11:59 p.m. ET Sunday to match the three-year, $46 million offer sheet the Mavericks gave Parsons, sources said. The Rockets could give Parsons some minutes at power forward, allowing them to play him and Ariza together.
Ariza, 29, returns to Houston for his second stint with the Rockets. The Rockets signed Ariza to a five-year, $35 million contract in the summer of 2009 then traded him to New Orleans the following summer.
The Rockets moved to sign Ariza after Chris Bosh passed on a four-year, $88 million offer from them to re-sign a five-year, $118 million deal with the Miami Heat. To make the offer, the Rockets created the necessary salary-cap space by trading Jeremy Lin and a first-round pick to the Los Angeles Lakers.
Ariza helped the Washington Wizards reach the second round of the playoffs last season.
USA Today first reported Ariza's agreement with the Rockets.