In a significant move that cements his legacy with the Philadelphia 76ers, Joel Embiid has inked a three-year max contract extension worth a staggering $193 million. This deal ensures that Embiid will don the 76ers' jersey through the 2028-29 season, potentially concluding his exemplary career in the city that embraced him as a budding talent from Cameroon.
The contract extension includes a player option for the final year, a strategic decision providing Embiid with flexibility as he approaches the twilight of his career. By the end of his new contract, he will be 35 years old. Moreover, in a steadfast demonstration of his commitment to the team, Embiid turned down a $59 million player option for the 2026-27 season under his previous contract. This decision initially raised eyebrows, but it aligns seamlessly with the terms of his new deal, where he stands to make an estimated $59.3 million for that very season.
Financially, the extension is a game-changer. Embiid’s salary is set to rise to an estimated $64.3 million in the 2027-28 season, and if he exercises his player option for the 2028-29 season, it will be valued at approximately $69.1 million. Should Embiid opt in, his total career earnings will surpass an impressive $500 million. Over the next five years alone, Embiid is projected to earn some $299.5 million.
On the court, Embiid has been nothing short of spectacular. Last season, he averaged 34.7 points, 5.6 assists, 11.0 rebounds, 1.7 blocks, and 1.2 steals per game, showcasing his all-round capabilities. His usage rate of 38.7% underscores his significant role in the team's offense. His career thus far has seen him participate in seven All-Star games, five All-NBA teams, and three All-Defensive Teams. Furthermore, he recently added a gold medal with Team USA at the Olympics in Paris to his accolades, solidifying his reputation as one of the elite players in the league.
In his own words, Embiid expressed deep affection and loyalty to the city of Philadelphia and its fans. "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 said, reflecting his unyielding dedication and ambition.
The 76ers' Managing Partner, Josh Harris, was equally enthusiastic about retaining their star player. "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 stated, lauding Embiid's contributions both on and off the court.
The 76ers have demonstrated their commitment to building a championship-caliber team around Embiid. This offseason saw the signings of Paul George to a four-year max deal and Tyrese Maxey to a five-year max deal, amounting to a future salary commitment of approximately $715 million to the trio of Embiid, George, and Maxey. Further bolstering their roster, the 76ers added Caleb Martin, Andre Drummond, Eric Gordon, Reggie Jackson, and Guerschon Yabusele, while bringing back Kelly Oubre Jr. and Kyle Lowry. Additionally, K.J. Martin was re-signed with a contract designed to serve as a potential trade asset near the deadline.
Despite their regular-season success— trailing only the Milwaukee Bucks, Boston Celtics, and Denver Nuggets in wins since the 2017-18 campaign— a trip beyond the second round of the playoffs has eluded the 76ers. With these strategic roster enhancements and Embiid at the helm, the 76ers aim to break this cycle and deliver the championship that the fervent Philadelphia fans have been yearning for.
Reflecting on his journey, Embiid remains heartfelt and hopeful. "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 acknowledged. His sentiments resonate with his earlier statement: "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."
As the new season approaches, the stakes are higher than ever for the 76ers. With a reloaded roster and their star player reaffirming his commitment, Philadelphia's quest for an NBA championship appears more promising. "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 concluded, reinforcing his unwavering resolve to deliver on his promise.