Chandler Parsons agrees to Dallas offer sheet for three years, more than $45 million

UPDATE: Marc J. Spears of Yahoo! Sports gives more details into the signing.

Chandler Parsons has a player option in third year of the offer sheet with the Mavs & was attracted to their uptempo offense, a source says.

— Marc J. Spears (@SpearsNBAYahoo) July 9, 2014

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Chandler Parsons has agreed to an offer sheet with the Dallas Mavericks.

ESPN sources say Mavericks and Rockets RFA Chandler Parsons have reached agreement on three-year offer sheet worth in excess of $45 million

— Marc Stein (@ESPNSteinLine) July 9, 2014

Apparently, Houston was hesitant to offer him that much money.

Houston and Parsons, a restricted free agent, negotiated throughout day, but were unable to come to an agreement on a deal, sources said.

— Adrian Wojnarowski (@WojYahooNBA) July 9, 2014

Still confused about how restricted free agency works? Go read Hal Brown's extensive breakdown right here.