The start of free agency is looming just hours away. However, an interesting report came out regarding the future of one of the NBA’s brightest young stars. According to PhillyVoice’s Kyle Neubeck, the Philadelphia 76ers “are not expected to sign Tyrese Maxey to an extension this offseason.”
ESPN’s Ramona Shelburne confirmed Neubeck’s reporting a few minutes later.
The Sixers are not planning to extend Tyrese Maxey this summer, sources told ESPN. He is still seen as a big part of their future, but the team wants to delay an extension for him to preserve flexibility.
— Ramona Shelburne (@ramonashelburne) June 30, 2023
Neubeck’s report went on to emphasize that Maxey remains an important piece of the roster. “This is not viewed as a condemnation of Maxey or a reflection of how the team values him, with the team continuing to view Maxey as a long-term core piece.”
Not re-signing the 22-year-old guard to an extension this offseason makes a ton of sense from the Sixers’ perspective. As ESPN’s Bobby Marks explains below, keeping Maxey on a cap hold for the 2024 offseason would save the team $17 million in cap space. His current $13 million cap hit is going to be far exceeded by the amount in his eventual contract extension. Maxey scored 20.3 points per game last season while also growing into one of the league’s top outside shooters.
Maxey has a low $13M free agent cap hold in 2024.
If he signed an extension starting at $30M for example, Philadelphia will lose $17M in room.
The 76ers have only 2 players with guaranteed contracts in 2024-25:
Joel Embiid and PJ Tucker https://t.co/eAXzRa7Q8f
— Bobby Marks (@BobbyMarks42) June 30, 2023
Pushing off Maxey’s contract extension effectively gives the Sixers increased flexibility in free agency next offseason. With Tobias Harris’ (and James Harden’s in the seemingly unlikely event he remains with the team next season) contract potentially coming off the books after next season, the Sixers could potentially open up a max contract slot in free agency.
There is some risk associated with delaying the contract extension. Maxey and his camp could not be on board with the idea, resulting in some undue tension with the Sixers. The team would still possess the rights to match any contract offer he receives in free agency if it did get to that point. However, it is likely the organization communicated their intentions to Maxey and got him on board.
Maxey will play through next season on his fourth-year club option worth roughly $4.3 million.
