76ers Retain Rising Star Paul Reed with Matching 3-Year, $23M Offer Sheet

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In a move to secure the promising talent of Paul Reed, the Philadelphia 76ers have successfully matched a lucrative three-year, $23 million offer sheet, ensuring the rising star remains an integral part of their roster.

Sources informed media on Sunday night that the Philadelphia 76ers have matched the three-year, $23 million offer sheet from the Utah Jazz for restricted free agent forward Paul Reed, ensuring his retention by the team.

Reed officially signed the offer sheet on Saturday morning, and the Sixers strategically waited until just 90 minutes prior to the 11:59 p.m. ET Sunday deadline to notify Utah of their decision to match the offer. It is worth noting that Reed possesses veto power over any potential trade and cannot be moved to Utah for a full year.

Interestingly, the terms of the offer sheet contain a unique stipulation regarding Reed’s contract. While the first season is fully guaranteed, the following two seasons, valued at $15.7 million, will only become guaranteed if the Sixers advance to the Eastern Conference semifinals. Considering the current standings of both teams, it is more probable that the Sixers will have to guarantee those seasons (2024-2025 and 2025-2026) rather than the Jazz.

This situation draws parallels to an incident from 11 years ago when Daryl Morey, who was the general manager of the Houston Rockets at the time, signed Omer Asik, a restricted free agent center from the Chicago Bulls, to a three-year, $24.3 million offer sheet. Morey and Asik’s agent, Justin Zanik, collaborated on including a “poison pill” provision that heavily backloaded the contract with $15 million in the third year. Coincidentally, Morey is currently the president of basketball operations for the Sixers, while Zanik now serves as the general manager of the Jazz, bringing forth this unique guarantee provision in Reed’s offer sheet.

Reed showcased considerable promise for the Sixers in the previous season, featuring in 69 games, surpassing his combined appearances from his first two seasons (63). According to ESPN Stats & Information research, Reed ranked among the top 10 players in offensive rebounding percentage last season.

In his four starts last season, including regular-season and playoff games, Reed posted impressive averages of 11.8 points and 11.5 rebounds. Notably, in his first playoff start, he recorded 10 points and 15 rebounds during Game 4 against the Brooklyn Nets, becoming the first Sixers player since Samuel Dalembert in 2005 to achieve such a feat in their playoff debut.

Philadelphia also made additional moves in the free agency market, securing the services of center Mo Bamba on a one-year deal and re-signing forward/center Montrezl Harrell to a new one-year contract.

 

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