Joel Embiid has signed a maximum contract extension deal with the Philadelphia 76ers worth $193 million. The three-year extension with a player option in 2028 and 2029 has made Embiid one of the highest-paid athletes in the league. He is also now a member of an elite club alongside LeBron James and Stephen Curry.
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Bobby Marks discussed the details of Embiid’s contract on the NBA on ESPN YouTube channel. The NBA Front Office Insider also talked about the trend of players not going into free agency and choosing to sign extensions with their teams instead.
Adding the values of his current contract and the extension that he just signed, Embiid will make $299.5 million in salary over the next five years. With this, his total NBA career earnings will reach $515 million, which gives him entry to the elite half-a-billion club.
The club only features the likes of LeBron with $584 million, Steph with $536 million, Paul George with $519 million, and Kevin Durant with $508 million.
Joel Embiid is now part of the $500M+ club, joining LeBron James, Stephen Curry, Paul George and Kevin Durant. pic.twitter.com/Obdh5LA2Dl
— Bobby Marks (@BobbyMarks42) September 20, 2024
Marks said, “So he’s got a guaranteed on-court career earnings of $515 million. It’s fourth all-time [on the list of NBA career earnings].”
Here is the breakdown of the Joel Embiid extension
Embiid now has $299.5M in salary over the next 5 years pic.twitter.com/Fzvq8g5dNi
— Bobby Marks (@BobbyMarks42) September 20, 2024
Embiid actually had three years left on his contract with the last one being a player option. In this scenario, his previous player option will be eliminated.
His previous player option worth $59 million will be replaced with $59.5 million. Considering the $59 million was guaranteed money, Marks said that his extension deal holds new money value of $134 million.
The Philadelphia 76ers are banking on the Big 3
The 76ers franchise has been splurging money on their players, especially the Big 3 of Joel Embiid, Paul George and Tyrese Maxey. They’re putting all their eggs in one basket and trying to provide the three players with enough motivation for the next seasons. Combined, these three players will take over $716 million from the franchise in the duration of their respective contracts.
PG, who signed with the franchise in free agency, has a four-year max contract with the 76ers worth $212 million. Other than his contract and the one Embiid just signed, Maxey is also making the big bucks from the franchise. The 23-year-old has a five-year deal with the franchise worth a whopping $204 million.
