Why the 76ers don’t plan to offer rising star Tyrese Maxey a contract extension this offseason

76ers guard Tyrese Maxey is one of the fastest rising stars in the entire NBA. Since being selected by Philadelphia with the 21st overall pick in the 2020 draft, Maxey has blossomed into a borderline-All-Star, despite largely operating in the MVP-sized shadows of Joel Embiid and James Harden.

A 22-year-old with a lauded work ethic, Maxey’s ceiling in the league is sky high, but despite this, the Sixers aren’t planning to offer the dynamic young guard a contract extension this offseason, a league source has confirmed to CBS Sports. Kyle Neubeck of Philly Voice was the first to report on the situation. 

Why not? 

The answer is pretty simple, and it largely comes down to future financial flexibility. By not extending Maxey at this time, the Sixers preserve cap space for next offseason when they could potentially create up two open max-salary slots. Tobias Harris, who is slated to make nearly $40 million next season, will become an unrestricted free agent next summer, and so will James Harden, who recently opted into his $35 million player option for the 2023-24 season. 

Those two will both be off of Philly’s books next summer, and as long as the organization doesn’t take back any substantial long-term salaries in potential trades involving either of those guys, the team will have a ton of room with which to operate. As it stands currently, Joel Embiid is the only player on Philadelphia’s roster who has a guaranteed salary for the 2024-25 season. (P.J. Tucker has a player option that he’s likely to pick up.) 

If no other long-term salaries are added, the Sixers could go into next offseason with only Embiid’s estimated $51 million salary, Tucker’s $11.5 million player option and a $13 million restricted free agent cap hold for Maxey. The Sixers could use the additional cap space generated to sign outside free agents and then still take care of Maxey with a lucrative, multi-year deal, assuming that the team’s ownership remains willing to spend big. 

Also, it’s not like the Sixers immediately run the risk of losing Maxey by not extending him this summer. If no extension is signed, Maxey will become a restricted free agent next offseason, and the Sixers will then have the opportunity to match any outside offers. So, they are still in complete control of his NBA future even without an extension. By going down this avenue, the Sixers could potentially create a future that includes Embiid, ample salary cap space to bring in other talent and the ability to retain Maxey long-term. 

Not extending Maxey also makes it easier to include him in a trade in the present with substantially less money and fewer years on his deal. ESPN’s Brian Windhorst suggested that the Sixers didn’t extend Maxey so that they could potentially use him as a central piece in a trade for Portland Trail Blazers guard Damian Lillard this offseason. 

While it’s possible that was a factor in the team’s decision-making process, Maxey is not currently available in trade talks as the Sixers remain extremely high on him moving forward, a league source familiar with the situation told CBS Sports. Unavailable doesn’t mean “untouchable,” though, and things can change quickly in the NBA. If Lillard ultimately asks out of Portland, as many have expected him to do for quite some time, perhaps Maxey’s availability changes.  

The move also isn’t a risk-free one for the Sixers. The organizational downside of delaying an extension is potentially upsetting, angering, alienating the player, or souring the relationship with Maxey, who is certainly deserving of an extension by any objective metric. A player would always prefer to have the long-term security that comes with an extension rather than delaying it, as the potential for a career-altering injury is unavoidable. Maxey certainly wouldn’t be the first player in league history to feel slighted by such a decision. 

There have been some recent examples where a team deciding to delay an extension to an important piece has backfired, and the Sixers have to hope that doesn’t happen here. Ample communication between the team and player could help to mollify the situation. Yes, there’s risk, but if Maxey is able to take the move in stride, it could end up being hugely beneficial for the Sixers in the long run.