PHILADELPHIA (CBS) — The Philadelphia 76ers and point guard Tyrese Maxey agreed to a maximum contract extension Monday morning, a source confirmed to CBS News Philadelphia.
The Sixers and Maxey agreed in principle to a five-year contract extension worth $204 million, the source confirmed.
ESPN’s Adrian Wojnarowski was first to report the extension, adding that Maxey’s contract is fully guaranteed with no options.
Under NBA rules, the Sixers and Maxey can officially sign the contract on Saturday, when the league’s free agency moratorium expires.
Maxey’s extension comes hours after news broke that the Sixers plan to sign free agent Paul George to a four-year, $212 million deal. Philadelphia had a busy Sunday, agree to contracts with free agents after the NBA moratorium period began. The moratorium period ends Saturday afternoon.
The 23-year-old continued his ascent from the 21st overall pick in the 2020 NBA draft to the Sixers’ second star behind former MVP Joel Embiid. Maxey will team up with Embiid and George to try to make a deep playoff run in 2024-2025.
Maxey is coming off his first NBA All-Star Game appearance, averaging a career-high 25.9 points, 6.2 assists and 3.7 rebounds. He had three 50-plus point performances last season — including one career-high 52 points against the San Antonio Spurs on April 7.
Last season, Maxey won both NBA titles Most Improved Player of the Year Award And Award for sportsmanship.
