76ers make a splash with $400 million in contracts for Paul George and Tyrese Maxey (2024)

PHILADELPHIA (AP) — Paul George ditched LA and decided to help form a new Big Three in Philly with Joel Embiid and Tyrese Maxey. Of course, Maxey needed to stick around to complete the talented trio — and the Philadelphia 76ers went all in on lavish, long-term contracts to make that happen.

Up first, George agreed overnight to a four-year, $212 million free-agent contract after the nine-time All-Star spurned the Los Angeles Clippers. Maxey was on deck, and the first-time All-Star soon agreed in principle by sunrise Monday to a five-year, $204 million extension.

The 76ers threw down the gauntlet while most of the NBA was sleeping — committing more than $400 million in salary to two players they believe position them as the top contender to dethrone the NBA champion Boston Celtics.

Here they come, team of the year?

Hold up.

The 76ers have been down this high-priced, high-expectations road before without a championship to show for their efforts. They have failed to find the right pieces to field a winner around their franchise player Embiid, falling short in their star hunting with Ben Simmons, Jimmy Butler, James Harden, Al Horford and a list that goes on and on.

They’ll try again, this time with George in tow — not as the elite centerpiece he was asked to be in the past with Indiana, Oklahoma City and the Clippers, but in a complementary role to Embiid, hopeful his 34-year-old legs can hold up over the long haul to ease some of the burden on the 2023 NBA MVP. The 76ers were a bottom feeder when Embiid was hurt last season — and he’s often injured — so rolling the dice on a player widely considered the best available on the free-agent market was a chance team president Daryl Morey was willing to take.

“We’re planning on being the best team in the East next season,” Morey said last week during the draft.

George at least should keep them in the mix in the East and give them a viable No. 1 scoring option when Embiid is out.

The 76ers finished 31-8 in the regular season with Embiid — about a 65-win pace — and a woeful 16-27 without him.

The Sixers were a play-in tournament team this season and lost to New York in the first round. The Knicks also made an early splash in their bid to remain in the championship picture. They agreed to a $210 million deal with OG Anunoby and are set to acquire Mikal Bridges from Brooklyn in deals that only increased the pressure on Morey to take a big swing at the free-agent fence.

Morey and the 76ers devised this plan as far back as a year ago when they asked Maxey to play out the final year of his rookie contract and wait a summer for an extension to free up the salary cap space needed to pursue free agents. Morey then took on only expiring contracts and draft picks in his deals throughout the season — notably in trading Harden to the Clippers and signing veteran Kyle Lowry to a short-term deal — that left the 76ers with essentially only Embiid and Maxey as the lone key holdovers on the roster once the season ended and roughly $65 million in cap space this summer.

“This offseason's a big one,” Morey said after the 76ers were knocked out of the playoffs. “I owe it to the fans, to ownership, to everybody to get this team where we're in a place where we're competing for championships.”

George — who has averaged 20.8 points over a 14-year career — wanted to move on from the Clippers and declined a player option in his contract for $48.8 million in 2024-2025 that ended a five-year stretch with the team in which he averaged at least 21.5 points each season.

The Clippers’ attempt at winning it all with their Big Three of George, Kawhi Leonard and Harden fell flat.

“The gap was significant," the Clippers said Sunday night in a news release. ”We understand and respect Paul’s decision to look elsewhere for his next contract.”

He looked all the way across the U.S. to Philadelphia.

George joins a Sixers team that has been a perennial underachiever, even as Embiid blossomed into one of the top players in the NBA. Philadelphia has not won an NBA title since 1983 or even advanced out of the second round of the playoffs since 2001.

Embiid, set to play this summer for Team USA at the Paris Olympics, fueled rumors that George was headed to Philly during a TV appearance together during the NBA Finals.

“Hopefully this offseason, we find a way to get better, and you know,” Embiid said, pausing to side-eye George, “add some pieces.”

The 76ers did strengthen their roster with the expected addition of center Andre Drummond and Eric Gordon and the return of Kelly Oubre Jr. in more deals expected to be announced as early as Saturday. The 76ers are also high on first-round draft pick Jared McCain out of Duke. And George is an upgrade in talent over the departed — and much-maligned — Tobias Harris.

Maxey was named the league’s most improved player this season. His scoring rose for the third consecutive year, and he finished the regular season averaging 25.9 points, 6.2 assists, 3.7 rebounds and 1.0 steals per game — all career bests.

George is a six-time member of the All-NBA Team. He’s a four-time member of the NBA All-Defensive Team and was the league’s most improved player in 2013. He was a finalist for both NBA MVP and Defensive Player of the Year in 2019, when he led the league with 2.21 steals per contest. George also has never played in an NBA Finals.

Much like Embiid’s, George’s injury history should give the 76ers reason for some concern. George played 76 games last season, the first time he played more than 56 since 2018-19.

Still, with few available options, and money to burn, the 76ers had little choice but to chase an aging — yet still elite — star such as George.

“It’s a big offseason for us,” Morey said in May. “We obviously have two great studs to build around in Joel and Tyrese."

They hope they found a third one in George.

___

AP NBA: https://apnews.com/hub/NBA

76ers make a splash with $400 million in contracts for Paul George and Tyrese Maxey (2024)

FAQs

How much does Tyrese Maxey make for the 76ers? ›

Tyrese Maxey signed a 5 year , $203,852,600 contract with the Philadelphia 76ers, including $203,852,600 guaranteed, and an average annual salary of $40,770,520. In 2024-25, Maxey will earn a base salary of $35,147,000, while carrying a cap hit of $35,147,000 and a dead cap value of $35,147,000.

How much money did Paul George get? ›

Paul George has signed a four-year, $212 million contract with the Philadelphia 76ers, joining MVP Joel Embiid and All-Star Tyrese Maxey.

Who makes the most money on the 76ers? ›

Joel Embiid: $167,691,076

Joel Embiid became the all-time earner in Philadelphia 76ers franchise history this season after making $33.6 million in 2022-23. The reigning MVP is set to begin the first year of his four-year, $213 million supermax extension this upcoming season.

How much has Paul George made in his career? ›

He was drafted 10th overall by the Indiana Pacers in the 1st round of the 2010 draft. He has signed 5 contracts worth a total value of $626,835,411.

How much are 76ers worth? ›

The 76ers were valued at $4.13 billion by Sportico in 2023. In 2013, Harris and Blitzer bought the New Jersey Devils of the National Hockey League (NHL) and their arena, the Prudential Center, from Jeff Vanderbeek for $320 million.

What contract is Tyrese Maxey eligible for? ›

That was confirmed Saturday when the Sixers announced All-Star guard Tyrese Maxey has signed a five-year, $204 million contract extension.

What is Paul George's yearly salary? ›

How much does Paul George make from Nike? ›

Nike is George's primary sponsor. He is estimated to make $5.5 million from Nike every year.

How much cap space did the Sixers get after Paul George signed? ›

They had the opportunity to create more than $60 million in cap space, and they did just that. They landed one of the biggest fish in the free-agent pond by signing Paul George to a four-year, $211.6 million contract.

Who owns majority of the 76ers? ›

The Philadelphia 76ers are a part of Harris Blitzer Sports & Entertainment (HBSE), a leading sports and entertainment platform, of which Josh is the Founder.

Who is #1 on the 76ers? ›

KJ Martin Player Profile & Career Stats | Philadelphia 76ers.

How many rings does Paul George have? ›

Paul George has not won any championships in his career.

Does Paul George have a no trade clause? ›

George has said himself he was willing to stay with the Clippers, but they didn't offer a no-trade clause, and they didn't give him the four-year deal the 76ers did.

What is Paul George's max contract? ›

Hours after the Los Angeles Clippers announced Paul George would be leaving the team, reports surfaced early Monday morning that the nine-time All-Star had agreed to a four-year, $212 million contract with the Philadelphia 76ers, and it was confirmed late Saturday night.

How much does Sixers mascot make? ›

The exact salary of the person playing Franklin the Dog is not available in the public domain. However, according to online sources, NBA mascots earn between $50,000 - $100,000 per annum on an average. Besides entertaining the home crowd, Franklin can also be seen at several community events organized by the NBA.

How much does Joel Embiid make a year? ›

Does Tyrese Maxey still play for the Sixers? ›

Player News

Maxey agreed Monday with the 76ers on a five-year, $204 million max contract extension, Adrian Wojnarowski of ESPN reports.

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