Joel Embiid and the 76ers mutually benefit from extension
In 31 games last season, Joel Embiid was transcendent. He didn’t play like someone who had missed two seasons and hadn’t been playing basketball for more than a few years. Instead, he looked like the franchise talent the 76ers hoped he would be when they took him out of Kansas. And now he is getting paid like it.
As first reported by ESPN’s Adrian Wojnarowski, the 76ers and Embiid have agreed on a five-year, $148 million deal. It could spike to $178 million if Embiid makes All-NBA first, second or third team, or wins the MVP, this season. As reported by ESPN’s Zach Lowe, the deal is maybe the most complex extension in league history. This deal makes Embiid the franchise cornerstone just as Philadelphia looks to take a take a step forward this year with Ben Simmons healthy, Markelle Fultz added to the mix and veterans J.J. Redick and Amir Johnson around to help out.
Specific details about the contract are currently unclear. But per Wojnarowski, there is specific language that gives both sides some cover. For Embiid, Wojnarowski reports that the 76ers would have to release him in order for him to not make $148 million. For the 76ers, Wojnarowski notes that there are salary cap protections in place were Embiid to get hurt and miss significant time.
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Whatever the exact details are, both sides are winners. Embiid, even if he only played 31 games last year, showed how dominant he could be. He can do everything on both ends of the floor and, even as the league gets smaller and faster, certain kinds of bigs can still feast. Embiid, as nimble and athletic a 7-footer as there is, is one of those players. And if he does get hurt, and never lives up to his potential, this contract protects him. He’ll never be lacking the money to buy pitchers of Shirley Temples.
For 76ers, you could argue that letting Embiid play out this season before committing significant money makes sense. But were he to have even a mildly healthy season and played in around 60 games, teams would find a way to throw money at him in restricted free agency next summer. Then the 76ers could get stuck in a situation where if he gets signed to a shorter deal they would be forced to match, leaving them with fewer years of control over a franchise talent. And not just any franchise talent, one who projects to be better than any of their other high lottery picks. Better to pay now and lock up Embiid into his prime. There are worse things to bet $148 million on. If Embiid works out, he’ll be worth every penny.
What the 76ers’ exact protections are will have a lot to say about how the deal actually impacts the team’s cap sheet. And they are right to seek them — NBA history is chock full of centers whose bodies failed and became financial albatrosses. If the team gets 10 or 20 percent protection, it won’t protect their future cap sheet all that much — especially as Simmons, Fultz and others starting their getting extensions in a few years. But if it’s more in the 50 percent range, Embiid’s deal still isn’t great, but it’s now a run-of-the-mill bad contract. Teams can work around that.
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How healthy Embiid is over the course of this deal will determine whether he extension was a good or bad idea. But, for now at least, it benefits both sides