The deal, which will keep Embiid in Philadelphia through the 2022-23 season, is worth a reported $148 million and could be worth up to as much as $178 million based on incentives, according to ESPN's Adrian Wojnarowski.
No matter what, the deal was necessary for the Sixers to be successful, and with the salary protection clause added in to the contract, this seems to be a win-win scenario for the team. Eventually, Philadelphia will have to do the same with Ben Simmons and Markelle Fultz, so getting the Embiid extension out of the way now figures to prove vital for the future.
In this salary cap era with limitations on years and max salaries, this is the riskiest contract we've seen.
"Joel Embiid is a transformative young talent that you rarely come across in our game", president of basketball operations Bryan Colangelo said in a statement. Even in this age of disappearing centers, Embiid can be for Philly what Tim Duncan was for San Antonio. When he didn't, they were a low lottery team. And yet Philadelphia's huge bet on Joel Embiid, for the position the Sixers are in as a franchise, was one they couldn't afford not to take. When he was on the floor, Philly was a legitimate playoff contender.
Embiid is truly a superstar, so even though he's struggled to stay healthy during his early this isn't surprising at all.
You don't mess around with players like that, especially in their formative years when the franchise has control over the negotiation.
Embiid's current rookie deal paid him $6.1 million for this season, and the Sixers could have offered him a qualifying offer for $8 million next season. Embiid, the No. 3 pick in the 2014 draft, missed the first two seasons of his career with foot injuries before playing 31 games a year ago - and then missing the rest of the season with a torn meniscus.More news: Hundreds of thousands march in Barcelona against Catalan independence
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As we await more details about the specific language in Embiid's contract, one thing is for sure.
The contract extension the two sides agreed to on Monday might be unprecedented, but the player has a chance to be unprecedented as well. And Embiid, for all of his precocious talent and wonderful gifts, has been more injured than most.
For comparison's sake, Greg Oden, another injury-riddled big man, played 82 games over his first three seasons.
Brett Brown, coach of the Sixers, said Embiid is a "difference-maker".
The building process saw the 76ers go 28-54 last season after winning fewer than 20 games each of the previous three seasons.
As such, the 76ers are taking a massive gamble on Embiid after just 31 career games. That deal has a trade kicker, a player option, and an upfront payment schedule. To risk letting a potential all-world player like Embiid leave would be managerial malpractice.