Joel Embiid and the Philadelphia 76ers have agreed to a three-year, $192.9 million max contract extension that guarantees the former MVP a total of $299.5 million through the 2028-29 season, sources told ESPN’s Ramona Shelburne.
Embiid announced Friday morning that he and the team had agreed to an extension, saying he hoped to be a Sixer “for the rest of my life.”
“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’s still a lot of work to do. You deserve a championship and I think we’re just getting started!”
Embiid will decline his $59 million player option through the 2026-27 season and sign a new, three-year extension. He will make $69 million in the final year of the new deal.
The new deal will increase his career earnings to $514.8 million, the fourth-highest in NBA history behind LeBron James, Stephen Curry and Paul George.
The 76ers announced the extension Friday without disclosing terms. In a statement, Josh Harris, the franchise’s managing partner, called Embiid “one of the greatest Sixers of all time,” adding that he was “one of the greatest players to ever play the game.”
“We are thrilled that this extension will keep him and his family in Philadelphia for many more years,” Harris said. “Joel is a great family man, leader and person. He’s an elite two-way player with a combination of size, strength and athleticism that’s rarely — ever — seen in this league. He’s integral to this franchise. The quest for another NBA championship, and he’ll make this organization his NBA home. We are proud to continue to be the choice.”
Embiid’s deal caps a season in which the 76ers spent $550 million in new money. They extended All-Star guard Tyrese Maxey to a $204 million contract and signed George to a four-year, $212 million contract. The Sixers signed free agent forward Caleb Martin, guard Eric Gordon and center Andre Drummond and re-signed Kelly Oubre and Kyle Lowry.
Embiid, 30, the 2023 NBA MVP, made All-NBA five times and established himself as one of the most dominant centers in the game’s modern history. According to ESPN Research, he averaged 27.9 points in his career — fourth behind Michael Jordan, Wilt Chamberlain and Luka Doncic.
Last season, Embiid averaged 34.7 points, but didn’t play enough games to qualify for the scoring title. According to ESPN Research, he averaged 1.03 points per minute, making him the first player to average a point per minute since Chamberlain in 1961-62.
