The Blazers have signed Jazz shooting guard Wesley Matthews to a five-year, $34 million, according to a league source.
Utah now has seven days to match, but it could be incredibly difficult for the Jazz to do so.
The source told ESPN that Matthews is set to make $9.2 million in 2010-11, an exorbitant raise over his league-minimum salary in 2009-10.
Last summer, the Blazers signed power forward Paul Millsap to an offer sheet, which the Jazz subsequently matched.
Matthews played in all 82 games last season as a rookie, when he made the team as an unrestricted free agent. He started 48 games and averaged 9.4 points, 2.3 rebounds and 1.5 assists.
In the postseason, Matthews averaged 13.2 points and 4.4 rebounds in 37.1 minutes per game. He started in all 10 of Utah's playoff games and was a crucial part of Utah's upset over Denver in the opening round.
Ric Bucher covers the NBA for ESPN The Magazine.