Joel Embiid and the Philadelphia 76ers have agreed to a three-year, $192.9 million maximum contract extension, guaranteeing the former MVP a total of $299.5 million through the 2028-29 season, according to ESPN.
Embiid confirmed the extension on Friday, expressing his desire to stay with the 76ers for the remainder of his career.
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“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 be done. You guys deserve a championship, and I think we’re just getting started!”
As part of the deal, Embiid will decline his $59 million player option for the 2026-27 season and sign the new extension. He is set to earn $69 million in the final year of this contract.
With this new agreement, Embiid’s career earnings will reach $514.8 million, placing him fourth on the NBA’s all-time earnings list, trailing only LeBron James, Stephen Curry, and Paul George.
Breaking: Joel Embiid and the Philadelphia 76ers have agreed to a three-year, $192.9 million maximum contract extension, sources told @ramonashelburne. pic.twitter.com/gSy4Zzw9ap
— ESPN (@espn) September 20, 2024
The 76ers officially announced the extension on Friday.
Josh Harris said in a statement: “Joel is one of the greatest Sixers ever and is on track to be one of the best to ever play the game.
“We’re thrilled to secure him and his family’s future in Philadelphia for years to come.
“He’s key to our championship aspirations, and we’re proud he continues to choose the 76ers as his NBA home.”
This extension caps an active offseason for the 76ers. They locked down All-Star guard Tyrese Maxey on a $204 million extension and signed Paul George to a four-year, $212 million deal.
At 30 years old, Embiid remains the face of the franchise. The 2023 NBA MVP has earned five All-NBA selections and established himself as one of the most dominant centres of his era.
