The deal, which will keep Embiid in Philadelphia through the 2022-23 season, is worth a reported $148 million and could be worth up to as much as $178 million based on incentives, according to ESPN's Adrian Wojnarowski.
If Embiid is able to perform he could earn up to $30 million more due to terms in the contract.
Despite the short amount of games, the center was a dominant figure on the court as he averaged 20.2 points, 7.8 rebounds and 2.5 blocks per game on a minutes restriction. What if Joel Embiid is never healthy?
Recent reports suggest that the second-year player is dominating five-on-five scrimmages (of course) and is likely to play in at least one of the Sixers' preseason games, all encouraging signs for his availability come regular season.
The Sixers are hopeful Embiid will be in the lineup on opening night.
The most tantalizingly talented player in the National Basketball Association has also just signed the most fascinating contract the league has seen in years, perhaps ever.
There is no doubt about Embiid's talent.
But the dominant two-way big man showed enough of his qualities to warrant the 76ers to offer him the £113m designated rookie scale max extension.
He helped the Sixers win eight of 10 games in one stretch in January, a stunning run for a team that won 10 games the previous season.
Since rebuilding their roster, the 76ers have begun to focus around Embiid, as he will be paired with the No. 1 overall picks in the 2016 and 2017 NBA Drafts in Ben Simmons and Markelle Fultz, respectively. The Sixers realize how important Embiid is to the future of this franchise, which is why they were quick to lock him up. "This is a unique talent, he's a franchise player". Having said that, Embiid's impact on the floor, when available, has been profound.
Embiid, whose only college season at Kansas ended prematurely with back soreness, is the key to that plan.
The Sixers and Embiid had until October 16 to agree to an extension; otherwise, Embiid would have become a restricted free agent following the season. If he makes it through this season healthy, they could always sign him in July. Such a talented player with such a youthful love, exuberance and enthusiasm for the game, betrayed by his body that is both a blessing and a curse; giving him the ability to be such a transcendent player but at the same time, limiting his time on the court where he can display his prodigious skill-set.