Joel Embiid has agreed to a 5-year deal worth $148 Million dollars.
Well, there it is. So much for taking a Curry-type deal (referencing Curry's first Rookie extension when he signed for 4 years worth a discounted $44 million dollars).
The 76ers and Joel Embiid agreed to a 5 year 148$ million dollar extension, per ESPN's Adrian Wojnarowski.
It has some incentives too.
The deal came as a shock to me because I did not expect to see that dollar amount, given that he has played 31 games in 3 years. Many pontificated that maybe a possible extension could be somewhere within the $80-$100 million dollar range, but here we are. There are partial guarantees, Shams Charania of The Vertical tweeted that 50% of the contract is guaranteed (the tweet has since been deleted so who knows for sure) and Woj later expounded on the report stating that there are cap protections for the Sixers incase Embiid gets hurt.
I know people are still going to be shocked and rake the Sixers through the coals because of the total dollar amount of the contract, but honestly, if Embiid is healthy (I know. It's a big, huge, gigantic IF) there is not enough money in the world to pay Embiid. He has Hall of Fame level talent, and with the partial guarantees and cap protections, I don't mind the Sixers taking the gamble. He has become a cult hero, and it's fair to point out that the Navicular bone in his right foot, and back has held up fine to this point, and in his short time, he showed that he can easily be a top 5-10 player. He did post that type of production in his 31 games after all. By the way, the fact that he has played 31 games has become so overstated, we get it, but you can't deny the talent.
If you can find me some better options where Philly could have spent their money then show me because I haven't found it. The NBA is all about risks and taking a risk on a rare talent like Embiid is one I'm willing to take. Don't take the full dollars of the contract at face value. There could be more details coming out that would make this contract a home-run of a steal. Check out what Zach Lowe has tweeted since the news broke.
More from ESPN's salary cap guru Bobby Marks
"Philadelphia could still have $40M in cap space next season even with the Joel Embiid extension. Embiid had a $18.3M cap hold in 2018-19 and Philadelphia will lose roughly $7M in room with the new $25.3M salary. The 76ers now have $57M in guaranteed contracts."
This could also further cement the fact that the Sixers will not pick up the Team Option on Jahlil Okafor's rookie contract for next year and they won't hand out the Qualifying offer to Nik Stauskus in the summer, in an effort to penny pinch and save as much cap space as possible.
So the Sixers have their guy now. All they have to do and renegotiate and extend Robert Covington, which they can only do after November 15th and the Sixers will have checked off most of the primary objectives the front office had heading into the season.
It's Process or Bust. You know which side I'm leaning on.