Searching for flexibility, Sixers opt not to extend Tyrese Maxey’s contract this offseason

The 76ers want to preserve as much salary-cap space as possible.

That contributed to their decision not to give Tyrese Maxey a contract extension this summer, a league source confirmed Friday.

The third-year guard was eligible to receive a five-year, $213 million rookie-scale extension. The deadline to offer that deal to the player some regard as the future of the franchise is Oct. 23.

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If Maxey does not receive an extension, he will become a restricted free agent next summer. He would then be able to sign an offer sheet with any team. However, the Sixers could retain him by matching the terms of that offer.

The franchise is invested in keeping Maxey long-term, and holding off on a deal would potentially clear a pathway to another max salary.

Maxey has already outperformed the four-year, $12 million contract he signed after being selected with the 21st pick in the 2020 draft. Maxey, one of the NBA’s rising stars, would surely command a lucrative contract with a big 2023-24 season.

The 22-year-old averaged a career-high 20.3 points to go with 3.5 assists this season. He shot a career-best 43.4% on three-pointers, ranking fifth in the league. Maxey also had seven games of 31 points or more, with a career-high 44 points on 9-for-12 three-point shooting against the Raptors on Oct. 28.

The 6-foot-2, 200-pounder will be one of the biggest beneficiaries if the Sixers are able to trade James Harden, who exercised the $35.6 million option for the final year of his deal. The two sides are working together to find a new team for Harden.

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Maxey stood around a lot on offense this season, watching as Joel Embiid and Harden executed their two-man game. He became a scorer when Embiid or Harden was off the floor and when the Sixers needed an additional offensive threat.

If Harden leaves, Maxey should receive a larger role as the Sixers look to surround him and Embiid with supporting pieces. Even if Harden stays, he and Tobias Harris ($39.2 million) will be in the final year of their contracts.

As a result, the Sixers could have significant salary-cap space next summer to upgrade their roster.

Keeping that flexibility is why Maxey won’t receive an extension this summer.