76ers, Joel Embiid Agree To $196 million, 4-Year Contract Extension

PHILADELPHIA (CBS/AP) -- The Process continues in Philadelphia. The Sixers have agreed to a four-year, $196 million supermax contract extension with Joel Embiid, 76ers President of Basketball Operations Daryl Morey announced Tuesday. The supermax contract extension will lock up the All-Star Center through the 2026-27 season.

The terms of the deal were not released per team policy.

Embiid hopes to retire in the City of Brotherly Love.

"There's no place like PHILADELPHIA!!! Excited to continue working towards bringing a title home and eventually retire here," Embiid tweeted.

"Joel is the definition of elite - a role model in our community and a true MVP-caliber superstar on the court," said Philadelphia 76ers Managing Partner Josh Harris. "Since he was drafted in 2014, his rare blend of skills, charisma and leadership has transformed this franchise. We couldn't be more grateful and excited to continue watching him in a 76ers uniform."

The 27-year-old Embiid was NBA MVP runner-up this season and led the Sixers to the best regular-season record in the Eastern Conference. The Sixers lost in the second round to the Atlanta Hawks.

Embiid averaged 28.5 points and 10.6 rebounds last season and became eligible for the NBA's super-max extension. Embiid, the No. 3 overall pick of the 2014 draft, suffered a tear in his right meniscus during the playoffs. He played through the injury and has emerged as Philadelphia's franchise player.

His new deal will start in 2023-24. Embiid and the 76ers signed a $148 million, five-year extension that kicked in with the 2018-19 season.

© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.

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