Sixers Secure Their Future With Joel Embiid's 3-Year, $193 Million Extension
The Philadelphia 76ers concluded their active offseason Friday by signing star center Joel Embiid to a three-year, $192.9 million maximum extension that runs through the 2028-29 season. The new deal begins at a projected $59.5 million in 2026-27 and contains a projected $69.1 player option for the 2028-29 season, according to Shams Charania of The Athletic, which will be Embiid's age-34 campaign.
"Joel has cemented himself as one of the greatest Sixers of all time and is well on his way to being one of the best players to ever play the game," Sixers managing partner Josh Harris said in a statement . "We're ecstatic that this extension keeps him and his family in Philadelphia for years to come."
Embiid broke the news on his Instagram , saying that he wants to remain in Philadelphia for the rest of his NBA career.
Because Embiid had multiple years left on his current contract, he had until Oct. 21 to sign the extension. Had the two sides not agreed to a new deal by then, he would have had to wait until next summer, when he would have become eligible for a four-year extension worth up to $266.7 million.
After signing both Paul George and Tyrese Maxey to max deals of their own this offseason, the Sixers were already pot-committed to this core for the next few years. Locking Embiid into a new deal for at least the next four seasons only further cemented that.
The Sixers could have created nearly $50 million in cap space in 2026-27 had Embiid declined his $59.0 million player option and left in free agency that summer. If the oft-injured 7-footer goes down with a career-altering injury in the next year or two, they might wind up lamenting their decision to sign him to an extension now.
However, the upside outweighs the downside considering how well Embiid has played over the last few years.
In both 2021-22 and 2022-23, Embiid led the NBA in scoring with more than 30 points per game. He won his first MVP award in 2022-23, and he was on pace to secure his second straight MVP last season until he suffered a meniscus injury in late January.
In 39 games, Embiid averaged 34.7 points, 11.0 rebounds, a career-high 5.6 assists, 1.7 blocks, 1.4 three-pointers and 1.2 steals in only 33.6 minutes per game. According to ESPN Research , he was the first player to average at least one point per minute played since Wilt Chamberlain in 1961-62. However, he fell short of both a third straight scoring title and MVP eligibility because he didn't play enough games.
While Embiid's scoring draws most of the headlines, his growth as a passer might have been the most encouraging development from last season. It was his first year under new Sixers head coach Nick Nurse, whose offensive scheme resulted in far more off-ball movement and cuts to the basket than his predecessors. That gave easy outlets to Embiid, who routinely draws double- and triple-teams.
Health remains the biggest question mark for Embiid, who has yet to play more than 68 games in a season throughout his 10-year NBA career. He missed the first two seasons of his career because of back-to-back foot surgeries, and he has routinely dealt with injuries that limit his effectiveness in the playoffs. If he's able to string together a relatively healthy playoff run, the Sixers should be a legitimate title contender this season.
Having George and Maxey could help in that regard. He shouldn't feel the need to shoulder as much of the offensive load throughout the regular season. The Sixers also signed valuable Embiid insurance this offseason by inking Andre Drummond to a two-year, $10 million deal. That could help buy Embiid a few nights of rest during the season.
The Sixers have now committed upward of $300 million to Embiid over the next half-decade. Given his injury history, that is undeniably risky. However, he's in the midst of his prime and has asserted himself as one of the best players in the NBA over recent seasons.
Had the Sixers waited until next offseason to sign Embiid to an extension, they might have been forced to add an extra year to the deal. That could have been worth as much as $73.8 million for his age-35 season. There was clear risk with that approach as well.
Now, the Sixers will enter the 2024-25 campaign with their top three players under guaranteed contract for at least the next three seasons. Many of their role players will still be gunning for new deals—chief among them Drummond and Kelly Oubre Jr.—but they shouldn't face a ton of contractual distractions this year.
Now, Embiid has only one thing on his mind.
"Philadelphia is home, and it's time to bring this community an NBA championship," he said.
