UPDATE: Rockets receive offer sheet

UPDATE: A source confirmed that the Rockets received the offer sheet from the Mavs on Thursday afternoon after sign-and-trade discussions did not progress. The three-day clock begins at 11 p.m. CT Thursday night.

DALLAS -- Maybe the Mavericks won’t have to wait three days to learn whether Chandler Parsons is coming to Dallas.

The Mavs are willing to work with the Rockets to skip the whole process of Houston deciding whether to exercise the right to match the three-year, $45-plus-million offer sheet signed by their restricted free agent.

Mavs president of basketball operations Donnie Nelson said Dallas is open to discussing sign-and-trade scenarios with the Rockets. The Mavs have yet to officially submit the offer sheet but will do so before midnight if a deal can’t be worked out with the Rockets.

“There’s communication because there’s sign-and-trade possibilities,” Nelson said. “There’s ways that both sides can win, so it’s just an ongoing process.”

No matter what time the Mavs officially submit the offer sheet today, the Rockets would have until Sunday night to decide whether to match.