Lopez, a restricted free agent, is weighing a maximum-salary offer sheet from a rival team, according to a person with knowledge of the proposed deal. If Lopez were to sign the offer sheet, it would eliminate him as a trading chip and kill the Nets chances of landing Howard this summer.
It was not immediately known which team was preparing the offer sheet, but three teams have the cap room to do so: the Charlotte Bobcats, the Dallas Mavericks and the Portland Trail Blazers. Lopez is eligible to make up to $58 million over four years from a rival team, or up to $78 million over five years if he re-signs with the Nets.
If Lopez signs an offer sheet, the Nets would have three days to match it or let him walk away. But under N.B.A. rules, the Nets would no longer be permitted to use Lopez in a sign-and-trade arrangement. Nor could they trade him anywhere until Jan. 15.