Joel Embiid, 76ers Agree to Three-Year, $192.9M Extension

Seven-time All-Star center Joel Embiid and the Philadelphia 76ers have reached a three-year, $192.9 million contract extension that guarantees the former MVP a total of $299.5 million through the 2028-29 season, according to multiple reports.

Embiid, 30, will decline his $59 million player option for the 2026-27 season and sign the new contract extension. He will earn $69 million in the final year of the new deal, per ESPN’s Tim Bontemps.

Joel Embiid’s new deal with the Philadelphia 76ers will boost his career earnings to $514.8 million, the fourth highest in NBA history

According to Spotrac, his career earnings will climb to $514.8 million with the new agreement, the fourth highest in NBA history behind LeBron James, Stephen Curry, and Paul George.

Embiid announced on social media that he and the team had agreed to the extension Friday morning, saying he hopes to remain a Sixer “for the rest of my career.”

“Philadelphia is home. I want to be here for the rest of my career,” Embiid wrote on Instagram. “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!”

Joel Embiid now has five years and $301 million on his 76ers deal – one of the three richest totals in NBA history. https://t.co/XqBRtDqA5L

— Shams Charania (@ShamsCharania) September 20, 2024

The Philadelphia 76ers also announced the extension Friday without disclosing terms. Josh Harris, a managing partner of the ownership group, praised Embiid in a statement for being “one of the greatest Sixers of all time” who was “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 said. “Joel Embiid is a great family man, leader, and person. He is an elite two-way player with a combination of size, strength, and athleticism that this league has rarely — if ever — seen.

“He is integral to this franchise’s quest for another NBA Championship, and we are honored that he continues to choose this organization as his NBA home.”

Embiid averaged a career-high 34.7 points last season before suffering a lateral meniscus injury in his left knee

In 39 games (all starts) with the 76ers last season, the 7-footer averaged career highs of 34.7 points, 5.6 assists, and 1.2 steals per contest while shooting 52.9% from the field and career bests of 38.8% from 3-point range and 88.3% at the free throw line.

Additionally, in Philadelphia’s 133-123 win over the San Antonio Spurs on Jan. 22, Embiid recorded a career-high 70 points, 18 rebounds, five assists, one steal, and one block in 37 minutes of action.

His 37 minutes played were the fewest ever in a 70-point game. The two-time scoring champ shot 24-of-41 (58.5%) from the floor, 1-of-2 (50%) from beyond the arc, and 21-of-23 (91.3%) at the foul line.

Here is the breakdown of the Joel Embiid extension

Embiid now has $299.5M in salary over the next 5 years pic.twitter.com/Fzvq8g5dNi

— Bobby Marks (@BobbyMarks42) September 20, 2024

Of course, Joel Embiid became the ninth player in NBA history to score 70 points in a game. He joined Wilt Chamberlain and David Robinson as the only centers to score at least 70 points in a contest.

Furthermore, Embiid’s deal closes an offseason in which the 76ers committed $550 million in new money. The Sixers extended All-Star guard Tyrese Maxey on a $204 million deal and signed George to a four-year, $212 million contract.

Philadelphia also signed free agent forward Caleb Martin, guard Eric Gordon, and center Andre Drummond, in addition to re-signing guards Kelly Oubre and Kyle Lowry.