Franchise big man Joel Embiid has agreed to a three-year maximum contract extension with the Sixers, the team announced on Friday morning.
The deal will pay Embiid $192,907,008 over the duration, with a player option for the 2028-29 season.
“I started a Sixer and want to be right here for the rest of my career. I had no idea when I was drafted as a 20-year-old kid from Cameroon how lucky I was to be in Philadelphia,” Embiid said in a press release.
“Through all the ups and downs, this city and the fans have been everything, and I am so grateful for how they’ve embraced me. I want to thank Josh, David, and the entire organization. Philadelphia is home and it’s time to bring this community an NBA championship.”
The extension wipes out Embiid's player option for the 2026-27 season, replacing the $59,033,114 decision with $59,539,200, a raise of roughly $500,000.
The salary cap is projected to be $170,112,000 in 2026-27. Embiid's experience deems him eligible for a salary sized at 35 percent of the cap.
He will then receive annual raises of eight percent, the maximum. His salary in 2027-28 will thus be $64,302,336. Embiid will be in line for $69,065,472 in 2028-29.
Here are five thoughts on the deal.
He doesn't have the championship equity. His body has always been compromised when the Sixers have needed him most. His playoff warts are well-known.
But, he's unequivocally one of the 10 best players in the world, if not one of the five best. As much as health makes his future an unknown, he often represents the only beacon of hope for a franchise that has usually vied for a top-three seed in the Eastern Conference playoffs during his time in the NBA.
No star in the league has persisted through his franchise's turbulence quite like Embiid has, remaining loyal to the Sixers and Philadelphia through trade requests, bad roster decisions and off-court turnover.
You pay him for the skill. You pay him for the hope. You pay him for the loyalty.
This contract. The Paul George signing. None of it happens without the ascendence of the young guard.
"We got a lot of cap space to make it happen. So, I think one of the big things when it comes to winning is, I mean, you look at all the teams that have won. You can't just put people together for one year and hope that it's going to work out. So, obviously we have some experience together. So, I think that's the way to go," Embiid said at last season's exit interview.
"Just got to keep going, keep building around it. You know, find the right mix of people to make it happen. But, yeah, I'm excited."
Bill Streicher-Imagn ImagesEverything Embiid said into the microphone that night before heading into his offseason suggested that his eyes remained focused on Philadelphia.
Most lead stars who have been through what Embiid has during his time in Philadelphia would keep their incumbent team guessing at best and making their dissatisfaction clear at worst.
Some might've even requested trades by now.
Embiid is still committed, and still here, because Maxey gave him a reason to believe.
The league's new collective bargaining agreement wants to prevent teams from adding large chunks of salary without sacrificing some of what they already have.
It's why the Sixers were in such a unique position this summer and landed George. It's why the Boston Celtics, as bulletproof as they appear to be right now, don't have forever to reign supreme.
The introduction of a second luxury tax apron and the constraints that come with surpassing it will challenge even the best cap manipulators. The Sixers' room for high-level players really dissipates after you add together the salaries of Embiid, Maxey, and George.
But, take a look at the rest of their cap sheet.
David Butler II-Imagn ImagesCaleb Martin's four-year deal represents the next largest obligation, and that annual value is just a little bit less than this year's room mid-level exception.
The rest of these contracts are two-year deals, veteran minimums or small bits of movable money.
As some of these contracts come off the books, the Celtics will likely be condensing salaries to field a full roster. The top of the Western Conference is going to be a blood bath for years to come. That's before factoring in the monster that the San Antonio Spurs seem destined to become as long as they have Victor Wembanyama.
So, where do free-agent role players in search of rings go - New York or Philadelphia?
Not only will some pick the Sixers because of the core they have in place, but they might even take discounts to help inch the team closer to glory.
And that's how it should be. In some ways, it's poetic. The star that opposing fans hate with a passion, playing for a fanbase and city that many outsiders detest. Dirk Nowitzki will forever be known as a Dallas Maverick. Giannis Antetokounmpo will forever be known as a Milwaukee Buck. From the turnaround jumper at the foul line that launched his career to the last time he steps on the court, Embiid will be known as a Philadelphia 76er.
A shiny new co-star in George. An Olympic gold medal. A heavier wallet. A great offseason ends on a note that both the team and player should be thrilled with.
