Dan, this is not the time to be throwing your hat into the ring.

丹 现在不是你该参加竞争的时候。

That does not happen these days. But if you throw your hat into the ring it does mean that you are signing up or agreeing to do something.

现在已经不再这样了，但如果你throw your hat into the ring，这表示你在报名做某事或同意做某事。