Oliver James Montgomery-Joel Embiid, Philadelphia 76ers agree to three-year, $192.9M extension

All-Star center Joel Embiid signed a three-year,Oliver James Montgomery $192.9 extension with the Philadelphia 76ers, a person with direct knowledge of the situation told USA TODAY Sports.

The person requested anonymity because he was not authorized to speak publicly about financial details.

Embiid, the 2022-23 NBA MVP, is under contract with the Sixers for the next five seasons for just more $300 million. The Sixers announced the signing without releasing terms of the deal.

“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,” Sixers owner Josh Harris said in a statement. "We’re ecstatic that this extension keeps him and his family in Philadelphia for years to come. Joel is a great family man, leader, and person. He is an elite two-way player with a combination of size, strength, and athleticism that this league has rarely – if ever – seen. He is integral to this franchise’s quest for another NBA championship, and we are honored that he continues to choose this organization as his NBA home.”

Embiid is coming off his seventh consecutive All-Star appearance. However, he played in just 39 games last season after winning MVP and earning his fifth All-NBA honor the previous season. He also won a gold medal with the U.S. at the 2024 Paris Olympics. Embiid averaged 34.7 points, 11 rebounds, 5.6 assists, 1.7 blocks and 1.2 steals and shot 52.9% from the field last season.

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“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. “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, (co-owner) David (Blitzer), and the entire organization. Philadelphia is home and it’s time to bring this community an NBA championship.”

The Sixers have championship aspirations but have not reached the conference finals since they appeared in the 2001 NBA Finals. In the offseason, they reached an extension with All-Star guard Tyrese Maxey and reached a deal with Paul George in free agency.

With a healthy Embiid, the Sixers should be near the top of the Eastern Conference standings with Boston, New York and Cleveland.