Joel Embiid will stay with the franchise that drafted him for the foreseeable future. According to reports by Ramona Shelburne of ESPN and Shams Charania of ESPN, the 2021-20 NBA MVP runner-up and the Philadelphia 76ers came to terms on a supermax contract extension, one that will pay Embiid $196 million for the next four years.
Philadelphia 76ers center Joel Embiid is finalizing a four-year, $196 million supermax contract extension, sources told ESPN.
— Ramona Shelburne (@ramonashelburne) August 17, 2021
Sources: 76ers star Joel Embiid has agreed to a four-year, $196 million super maximum contract extension. Major extension for the 2021 NBA MVP runner-up.
— Shams Charania (@ShamsCharania) August 17, 2021
Bobby Marks of ESPN broke down the financials behind the deal, which is projected to pay Embiid more than $50 million over each of its final two years.
Here is the breakdown on the Joel Embiid supermax extension:
2023/24- $43.73M
2024/25- $47.23M
2025/26- $50.72M
2026/27- $54.22M (Player)Important to note that this is a projection based on a $124.9M cap in 2023-24.
— Bobby Marks (@BobbyMarks42) August 17, 2021
Because Embiid has two years remaining on his current contract, he’s not eligible to hit free agency again until the 2027 offseason, when he will be 33 years old. One former teammate took to Twitter upon hearing the news to celebrate Embiid’s big payday.
Process got the 💰
— JJ Redick (@jj_redick) August 17, 2021
The face of The Process had his best season as a professional last year, earning second-team All-NBA and All-Defense nods while finishing second to Nikola Jokic in MVP voting. Arguably the most impactful center in the league due to his ability to help the Sixers win games on both ends of the floor, Embiid averaged a career-high 28.5 points with 10.6 rebounds, 2.8 assists, 1.4 blocks, and one steal in 31.1 minutes per game. Despite the individual success and the team racing out to the best record in the Eastern Conference last year, it did end abruptly, as Philadelphia lost to the Atlanta Hawks in seven games in the conference semifinals.
