Joel Embiid Stays with Philadelphia 76ers for $193 Million

The Philadelphia 76ers and their star Joel Embiid have agreed to a maximum contract extension worth $193 million, according to NBA sources. The deal, which includes a player option for the 2028-2029 season, extends his contract to a total of five years with a combined value of $301 million.

Embiid’s contract is the third richest in NBA history, behind Jayson Tatum’s five-year, $314 million extension, and Jaylen Brown’s five-year, $304 million deal. Both Tatum and Brown signed their extensions this past July.

The Philadelphia 76ers announced today (Friday) that they signed Embiid to a multi-year extension but did not disclose the terms of the deal.

Embiid confirmed the deal on Instagram, sharing a photo of him signing the contract.

The Cameroonian-born star said, “Philadelphia is my home. I want to stay here for the rest of my career. I love this community and all that it has given me and my family. There is a lot of work to be done. You deserve a championship, and I believe we are just getting started!”

The extension will keep Embiid with the 76ers until the age of 35 if he exercises the player option at the end of the deal. This ensures that he will remain under contract through his peak years. The extension comes just months after the 76ers signed Paul George, assembling the best roster for Embiid with the club.

There are some risks involved with the team as well. Embiid has been plagued by injuries throughout his career, and Philadelphia could be paying top dollar for a 35-year-old Embiid in 2028-2029. However, few players match his size, agility, and skills, making Embiid a rare talent.

Embiid has spent his entire NBA career with the Philadelphia 76ers, who selected him third overall in 2014. He missed his first two seasons with Philadelphia after undergoing surgery to repair a stress fracture in his right foot days before the NBA draft. Embiid made his debut in October 2016, finishing third in the Rookie of the Year voting that season. He has since been selected to the All-Star team seven consecutive times, starting from the 2017-2018 season.

In 433 regular season games, he has averaged 27.9 points and 11.2 rebounds. Embiid led the league in points per game in the 2021-2022 season (30.6 points) and again in 2022-2023 (33.1 points). He capped his dominant 2022-2023 season by winning the NBA MVP award.

Last season, Embiid set a new career-high average of 34.1 points per game, though he missed 43 games, including recovering from surgery to repair the lateral meniscus in his left knee.

Embiid has also led the Philadelphia 76ers to seven consecutive playoff appearances, though the team has yet to reach the NBA Finals during his tenure.