76ers sign Joel Embiid to three-year, $193M extension
Joel Embiid signed a max-level extension with the Philadelphia 76ers on Friday.
Including the two remaining years on Embiid’s existing contract and a three-year extension, the full value of the five-year agreement is $301 million, according to multiple reports.
The formal contract extension signing was shared by the team and Embiid on social media Friday morning. The team didn’t announce the financials, but the deal is worth a reported $193 million over three seasons — $64.3 million annually — and ends the speculation Embiid could exit Philadelphia at the end of his existing deal.
Embiid, in a statement issued by the team, expressed his gratitude to the fans as well as the John Harris, the owner and managing partner, and to David Blitzer, co-managing partner.
“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,” Embiid said in a statement issued by the team. “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. I want to thank Josh, David, and the entire organization. Philadelphia is home and it’s time to bring this community an NBA championship.”
The Athletic and Yahoo Sports reported Embiid declined his $59 million player option for the 2026-27 season in favor of this new $193 million extension, which adds a player option for 2028-29.
The 76ers acquired marquee free agent Paul George in July to pair with Embiid and All-Star point guard Tyrese Maxey, who signed a max extension in the offseason.
