Hornets general manager Rich Cho says the team has extended an offer sheet to free agent Gordon Hayward.
The deal signed Thursday would pay the small forward $63-million over the next four years. The Jazz have until 11:59 p.m. Sunday to match the offer and retain Hayward.
By signing the offer sheet, the sign and trade possibility with the Jazz is no longer an option.
The 6-foot-8 Hayward averaged career highs of 16.2 points, 5.2 assists, 5.1 rebounds and 1.4 steals last season while leading his team in scoring and minutes played.
The ninth overall pick in the 2010 draft, Hayward has played all four seasons in Utah scoring in double figures 63 times with nine double-doubles while averaging 12 points, 3.4 rebounds and 3.1 assists.