To match, or not to match.

That is the question being faced by the Jazz now that restricted free agent Paul Millsap, their backup power forward, signed an offer sheet from the Portland Trail Blazers.

The offer is for four years, said Millsap's representative and uncle, DeAngelo Simmons, after it was signed late Friday night.

The contract — worth approximately $32 million — contains no team options, and player opt-out or early termination options.

It also is structured, Simmons said, with a significant signing bonus — the so-called "toxic" element, as first reported by the Oregonian newspaper in Portland last Wednesday night, designed to discourage Utah from matching.

"It's a deal Paul wanted for himself, security-wise, financially," said Ara Vartanian, Millsap's other representative.

"It's definitely a situation where he's getting what he should. It's a fair deal. The Jazz had a chance to not let this happen, but unfortunately they didn't value Paul as much as other teams."

The multimillion-dollar bonus might frighten a small-market team like the Jazz, but it amounts to loose change in the pocket of billionaire Blazers owner and Microsoft co-founder Paul Allen.

If Utah is able to match, however, it raises the question of how Millsap would feel about staying with a team that, according to representation, undervalued him.

"The fact that Portland came out and went after Paul so greatly showed how much they want Paul," Vartanian said.

"If Utah matches, there's nothing we can do," he added. "Paul will play hard and do what he has to do. But if we had that offer from the Jazz, it never would have come to this."

The Jazz have a week to make their decision.

Asked Friday night if they would honor their initial vow to match any offer sheet Millsap signed, Jazz general manager Kevin O'Connor said, "I think we'd analyze everything."

That's largely because the Jazz still fervently are trying to reduce salary costs by trading starting power forward Carlos Boozer and the final $12,657,233 on his contract — and if they can't they're looking at a player payroll next season of more than $81 million.

And that means — if the match were made, and nothing changed by next season's end — the Jazz would owe the NBA more than $11 million for exceeding the league's $1-for-$1 luxury-tax threshold of $69.92 million.

Moreover, they would lose out on receiving a distribution share from taxpayers — which this year amounted to about $2.9 million.