Houston, we have a problem.

For all intents and purposes, the Dallas Mavericks signing of Chandler Parson to a three-year $45 Million offer sheet may be one of the most underrated signings this summer. Relegated to a towel-waving spectator during the earlier parts of free agency, Chandler Parsons's potential move could have far reaching effects in the Western Conference.

Now, it’s well known that Houston declined Parson’s option to create space to chase LeBron James and/or Carmelo Anthony. Given Parson’s restricted free agent status, Houston’s idea was to fully leverage the restricted part of that designation by allowing the market to dictate Parson’s worth.

Now it may come back to bite them at the most inopportune time.

LeBron’s stranglehold on the market, as it awaits his decision, coupled by Melo’s shaky terms between the Knicks and Lakers has created a domino effect that has teams outside of the Heat, Cavaliers, Lakers, and Knicks looking toward second-tier free agents.

The Dream Shake alluded to this worst care possibility a few weeks ago:

"The only way the Rockets end up regretting this is if Parsons wants to force a move elsewhere and signs a big offer sheet before the Rockets sign any players."

*Gulp.*

That sound you hear is Rockets GM Daryl Morey furiously dialing Chris Bosh's number.

Dallas on the other hand, may not only position themselves to upend their Texas brethren in the standings, but the ripple effects may cause a mad dash to sign Lance Stephenson, Eric Bledsoe, Luol Deng, Isaiah Thomas, Trevor Ariza, and more.

If Houston happens to match Dallas’s offer (they have 72 hours), they will not only eat up their cap space, but the ill will of Parson’s treatment could be a lingering issue on the team.

On the court, losing Chandler would be a major blow to Houston. They would trot out a lineup consisting of Omri Casspi, and possibly Troy Daniels. You thought James Harden and Parson's weren't that good defensively? Wait until you get a load of the Harden-Casspi masterpiece.

Dallas on the other hand, if they can bring back Vince Carter and Shawn Marion, would have the talent and depth to compete for a top 4 playoff spot in the west.

Before we deeply speculate on team fit, the Rockets have 72 hours to finally determine Chandler Parson’s true worth.

Houston you're on the clock.

For more Houston Rockets news head over to The Dream Shake, and for Dallas Mavericks insight check out Mavs Moneyball.