As expected, NBA contracts are rising to heights we’ve never seen before, and today Joel Embiid joined the party.
ESPN reports that Embiid and the Sixers have agreed on a three-year, $192.9 million max contract extension which guarantees the 7x NBA All-Star “a total of $299.5 million through the 2028-29 season.”
“Philadelphia is home. I want to be here for the rest of my career,” posted Embiid on Instagram. “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!
#Trust the process.”
In the final year of his deal, Embiid will make $69 million, a staggering sum that illustrates the rapid growth of NBA salaries.
According to ESPN, his career earnings will grow to $514.8 million. That will rank him fourth behind LeBron James, Steph Curry and Paul George.
“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,” Managing Partner Josh Harris said in a statement.
Embiid was selected with third overall pick in the 2014 NBA Draft by the Sixers, but didn’t play in his first two years with the team due to foot injuries. He finally started for the team in 2016 and made the All-Rookie team that season. In his 10 seasons with the team, Embiid has been a 2x scoring champion and won league MVP in the 2022-23 season where he averaged 33.1 ppg, 10.2 rpg and 4.2 apg. This past summer, Embiid helped Team USA win its fifth straight Olympic gold medal, giving him his first Olympic medal as well.
After signing his massive deal, Embiid thanked the city and expressed how happy he was to remain a Sixer.
“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,” he said.
According to the team, “Embiid is the only center, and one of three players throughout the league, to rank in the top five in 30-point games (189), 40-point games (48), and 50-point games (eight).”
