Not sure this is true. This is the “moratorium” period. To my knowledge no deal can be officially offered until July 6th. This week is a negotiating period.Legally Portland is on the hook for the full amount to Grant.
It would look really bad for them as an organization, but I don’t think they are legally committed to anything. I also wonder if this news changes Grant’s interest in staying in Portland. Probably not, but does likely mean he’ll spend the rest of his prime in a rebuilding situation (again).