In a significant move that solidifies their future, the Philadelphia 76ers have secured their franchise cornerstone, Joel Embiid, with a three-year max contract extension valued at $193 million. The newly inked deal ensures that Embiid remains in Philadelphia through the 2028-29 season, taking him to the age of 35.
Embiid has expressed his deep affection for Philadelphia numerous times, and this extension underscores his commitment. "Philadelphia is home. I want to be here for the rest of my career. I love this community and everything you've given me and my family. There is a lot more work to do. You guys deserve a championship and I think we're just getting started!" he stated, resonating with the desires and hopes of 76ers fans who have grown to cherish the All-Star center.
The contract extension comes with a player option for the final year, valued at approximately $69.1 million. This gives Embiid the flexibility to determine his future as he nears the end of his prime playing years. Interestingly, Embiid turned down a previous player option worth $59 million for the 2026-27 season, opting instead for the substantial financial benefits of the new extension, which will pay him an estimated $59.3 million that season, with his salary escalating to $64.3 million in the 2027-28 season.
Philadelphia 76ers' managing partner, Josh Harris, could not contain his excitement over Embiid's decision. "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. We're ecstatic that this extension keeps him and his family in Philadelphia for years to come," Harris commented. He praised Embiid's immense impact on the team and his dedication to the city.
The decision to keep Embiid long-term is a clear statement of intent from the 76ers' front office. The franchise has also fortified its roster this offseason by signing Paul George to a four-year max deal and Tyrese Maxey to a five-year max deal, which commits approximately $715 million in future salaries to Embiid, George, and Maxey. The team has further supplemented its depth with the acquisitions of Caleb Martin, Andre Drummond, Eric Gordon, Reggie Jackson, and Guerschon Yabusele, while bringing back familiar faces like Kelly Oubre Jr. and Kyle Lowry. K.J. Martin has also been re-signed with the purpose of serving as a potential trade asset near the deadline.
These strategic moves aim to catapult the 76ers past their recent playoff hurdles. Despite being one of the most successful regular-season teams since the 2017-18 campaign, only behind the Milwaukee Bucks, Boston Celtics, and Denver Nuggets in terms of wins, the 76ers have struggled to advance past the second round of the playoffs. Embiid's recent performances, including a season where he averaged 34.7 points, 5.6 assists, 11.0 rebounds, 1.7 blocks, and 1.2 steals per game with a usage rate of 38.7%, demonstrate he is at the peak of his powers. His inclusion in seven All-Star Games, five All-NBA teams, and three All-Defensive Teams reiterates his elite status in the league.
Further bolstering his resume, Embiid recently won a gold medal with Team USA at the Olympics in Paris, adding another accolade to his already illustrious career. His estimated earnings over the next five years amount to $299.5 million, and should he pick up his player option, his total career earnings will surpass the $500 million mark, a testament to his value and influence in the NBA.
Reflecting on his journey since being drafted by the 76ers as a 20-year-old from Cameroon, Embiid said, "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's bond with the city and its fans continues to strengthen, as he looks to deliver a long-awaited championship. "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," he noted, expressing deep gratitude for the unyielding support.
As the 76ers embark on the upcoming season, the hope is that with Embiid leading the charge and the recently bolstered roster, Philadelphia can finally break through and secure an NBA championship. "I want to thank Josh, David [Blitzer], and the entire organization. Philadelphia is home and it's time to bring this community an NBA championship," Embiid passionately declared, setting the stage for what could be an historic era for the franchise.