Yes, you can. An offer sheet is simply a contract by another name.
The only difference is the player's old team can match the deal or refuse to match and get compensation. Ever other part of negotiating a contract happens for an offer sheet.
- Jsaquella
No you can't.
John Buccigross‏@Buccigross
..There can be no conditions or contingencies in the offer sheet and a player cannot be traded once an offer sheet has been signed...
Cannot be traded for a year that is.