Oct. 11, 2017
Sixers Hoops: Joel Embiid Signs a Huge 5-Year Contract Extension!
Joel Embiid and the Philadelphia 76ers agreed on a five-year contract extension that was reported on Monday night but made official on Tuesday. The contract is worth $148 million and Embiid can get an additional $30 million being the value of the contract to as much as $178 million - if he earns and All-NBA First-, second- or third- team selection, or is named MVP this season, league sources said. The designated rookie scale extension - termed "super-max" - reflects 30 percent of the 2018-19 salary cap if Embiid reaches the performance-based criteria.
Update details on Joel Embiid's Contract extension:
Joel Embiid signed a five-year rookie-scale extension on Tuesday that is worth $146.5 million (base deal) not $148 million like originally reported at the time of the report nobody knew the full details yet.
So here's how Joel Embiid could earn less than the full $146.5 million:
Across each of the final four seasons of the extension, ending with the 2022/23 season, the Sixers could waive/release him for financial benefit if he's lost because of a contractually agreed-upon injury that causes him to miss 25 or more games regular-season games and if he plays fewer than 1,650 minutes, league source said.
There are specific injuries that are laid out in the contract and include only past problem areas to the feet and back, sources said. He would need to miss 25 or more regular-season games because of injuries to those areas, and play fewer than 1,650 minutes in order for the Sixers to have the option of releasing for cost savings.
Source and more details: ESPN or go to the tweet of Adrian Wojnarowski and click on the link in the tweet.
click ^^^ for more details on the contract extension.
My Thoughts on the contract extension are that this is a very good deal for both sides. If Joel Embiid stays healthy then he gets paid big time and if he can't play anymore due to an injury the Sixers can release him preventing them from paying him the full $148 million. I'm so happy they did this now before the season started so that he can focus on playing and helping this team make the playoffs this season.
The Process is Staying in Philly! Congrats Joel Embiid!