The Philadelphia 76ers decided to take their decision regarding Paul Reed down to the wire. After the Utah Jazz made an offer sheet, which Reed signed on Saturday morning, the Sixers waited until late Sunday night to make a decision.
Daryl Morey and the Sixers’ front office announced they matched the offer and re-signed Reed. According to reports, Reed is under contract for the next three seasons, making over $20 million.
On Sunday night, Sixers guard Tyrese Maxey took to Twitter to celebrate Reed’s latest accomplishment.
Along with his initial reaction, Maxey joked about whether or not he still has to pay for one of Reed’s signature “Out The Mud” hoodies now that the fourth-year center cashed in with a solid payday. Reed responded accordingly.
After announcing the re-signing of Reed, the Sixers did not disclose the terms of the deal, per team policy. However, ESPN’s Adrian Wojnarowski reported that Reed is slated to make $23 million for the next three seasons, with the first two seasons guaranteed.
That’s quite a payday for Reed, who started his NBA career as a two-way prospect coming out of DePaul. Following a successful stint in the NBA G League, Reed earned a standard NBA contract, which he played on for the following two seasons.
Last year, Reed averaged 11 minutes on the floor in nearly 70 games. He put up five points per game while coming down with four rebounds per game, averaging nearly 60 percent from the field.
While Reed didn’t hold the backup center position throughout the entire regular season, he was Joel Embiid’s primary backup and temporary replacement during the playoff run in 2023.
With a new contract in place, Reed will have the opportunity to earn himself a steady role in the Sixers’ rotation throughout the 2023-2024 season.
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