Of course, that doesn't mean you can't try to work out an offer in the weeks leading up to it. Just won't get processed until then.
Are you willing to pay 1/2 his contract or want to pay 1/2 his contract? I'm not saying right now I would look to trade for him and pay his entire salary, but it's a possibility. Yes, even after taking on Jason Bay and Derek Jeter, I still have enough room in my salary cap, haha.