Sixers officially sign Embiid to 5-year extension

The Philadelphia 76ers announced Tuesday that they've locked up center Joel Embiid to a five-year extension worth a reported $148 million.

That number equates to a max contract, but incentives could push the total upwards to $178 million, according to ESPN's Adrian Wojnarowski. While Embiid is a blue-chip talent, the deal represents significant risk on the Sixers' part. The 7-footer has only 31 NBA games under his belt - all last season - since being drafted in 2014.

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"Joel is only scratching the surface, but he has all the potential and promise to go down as one of the all-time greats to wear a Sixers jersey," GM Bryan Colangelo said.

Embiid recently renewed 5-on-5, full-court practices after undergoing knee surgery last spring.

The extension will take effect after this season, the last year of Embiid's rookie-scale contract.