Source: Joel Embiid signs three-year, $192.9 million extension with Sixers

Joel Embiid has signed a multiyear contract extension with the 76ers that he expects to keep him in Philadelphia for the remainder of his career.

The three-year deal is worth a projected $192.9 million, according to a source. Embiid will decline his player option for the 2026-27 season and sign an extension that keeps him in Philly through the 2028-29 season. The final year is a player option.

Embiid shared an Instagram post signing the deal. In the photo, Embiid is flanked by Sixers managing partner Josh Harris on one side and his wife, Anne, and son, Arthur on the other. An official announcement from the team followed shortly after.

“Philadelphia is home,” Embiid wrote in an Instagram post. “I want to be here for the rest of my career. I love this community and everything you’ve given me and my family. There is a lot more work to do. You guys deserve a championship and I think we’re just getting started.”

The deal could be worth up to $301 million for Embiid. Previously, the Sixers center signed a four-year, $196 million supermax deal that kept him locked in through the 2026-27 season.

“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,” Harris said. “We’re ecstatic that this extension keeps him and his family in Philadelphia for years to come.”

Earlier this offseason, Stephen Curry signed a one-year, $62 million extension with the Warriors that made him the first American athlete to make north of $60 million in a single season. Embiid now joins the club as he is expected to make $69 million in the final year of his latest contract.

» READ MORE: Sixers provide first look at Joel Embiid, Paul George and Tyrese Maxey on the court together

The Sixers have now locked up their big three players for the foreseeable future. In the same summer, they signed Paul George to a four-year, $212 million deal and inked Tyrese Maxey to a five-year, $204 million extension.

While Maxey and George will play an outsized role in the Sixers’ success, Embiid remains the team’s engine. He averaged 34.7 points, 11.0 rebounds, and 5.6 assists last season but played in only 39 games. The Sixers, who were an Eastern Conference contender at the time of Embiid’s injury, watched their season crater as the big man worked to return from a meniscus tear in his left knee. They were later ousted by the New York Knicks in the second round of the NBA playoffs.

The Sixers will have designs on advancing beyond the second round for the first time since 2001 with this new group, and they’ll lean on Embiid to make that happen. Despite injuries, Embiid remains one of the most prolific scorers of his era. The MVP and five-time All-Star has career averages of 27.9 points, 11.2 rebounds, and 1.7 blocks.

Embiid has been paid well over the years for that production, with this latest extension bringing his career earnings to $514.8 million, trailing only LeBron James, Curry and his new teammate Paul George. In a prepared statement, Embiid reflected on how far he has come in his basketball 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. “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.”