The Wizards have indicated at every turn they’d match any offer. With the pressure on, that stance apparently isn’t changing.
David Aldridge of NBA.com:
This is the right move. Porter – an excellent outside shooter and cutter who plays solid team defense – fits well around more ball-dominant players like John Wall and Bradley Beal. Capped out, Washington had no mechanism to adequately replace him.
The only question is whether the Wizards should have just given Porter a five-year contract in the first place. The max on that would have been $143,684,850, though perhaps they could have found a middle ground between that and the average salary on the offer sheet. Porter is just 24, and in a few years, Washington might regret not having him locked up longer. (See Gordon Hayward with the Jazz in 2014.)
Either way, Porter’s high starting salary will push the Wizards into luxury-tax range. Look for them to try trading Marcin Gortat, Ian Mahinmi and/or Jason Smith. Washington probably must attach a sweetener to dump those players, so the team must weight the cost-benefit of that relative to just paying some luxury tax.