>Offer sheet: The player currently has an offer sheet pending;
>if the first year's salary of that offer sheet is greater than
>the QO, then the value of the first year of the offer sheet is
>used as the cap hold.
>http://data.shamsports.com/content/pages/data/salaries/freeagentcapholds.jsp


he also wrote this, yesterday :

https://twitter.com/MarkDeeksNBA/status/487009706721165314

@MarkDeeksNBA
No. So they have three days to use their cap space. RT @sstewart1617 Does this increase Parsons Cap hold for Rockets during the 3 days?
6:05 PM - 9 Jul 2014


...


and here's larry last night on twitter :

https://twitter.com/LarryCoon

So let's do some math. Suppose Houston dumps Lin & Asik with $0 coming back. They renounce Daniels, Garcia & Hamilton. They waive Casspi
...Beverley, Covington & Powell. They keep QO to Parsons & Capela's draft rights. They have Dwight, Harden, Jones, Motiejunas & Canaan.
..With that configuration, they can give Bosh $16,427,992. Pretty short of his $20,644,400 max.
So let's renounce Capela & Parsons. Cap room rises to $19,279,451. STILL short of a max offer, and they don't have rights to Parsons.
To keep Parsons' rights & still sign Bosh to max, they have to dump another $3,732,744 in guaranteed salary. That's Jones AND Motiejunas.
So to get Bosh at max AND keep Parsons, Daryl Morey just needs to dump Asik, Lin, Jones AND Motiejunas with no salary coming he other way,
...along with throwing overboard everything that's not bolted down.


...


so as far as i know, parsons' cap hit during the waiting period is still just the QO ($1,760,350, 190% of his previous salary)