Wilbekin had played five games this month with the 76ers' Las Vegas Summer League team. Earlier this summer Wilbekin had also played in five games for one of the Orlando Magic's Orlando Summer League teams.
On July 3, Wilbekin's Australian National Basketball League team, the Cairns Taipans, announced it had signed the University of Florida-product to a one-year deal. Wilbekin will now opt out of that deal, according to Charania.
Wilbekin was named the Taipans' most valuable player and defensive player of the year, the first player in club history to win both honors. He averaged 15.1 ppg and 4.3 apg with the Australian club.
The 22 year old graduated from Florida in 2014. As a four-year player under Billy Donovan, Wilbekin led the team to an NCAA tournament Final Four appearance during his senior season.
The move is only the 76ers' latest transaction aimed at restocking the team's roster with younger talent. On July 14, the team signed former Baylor guard Pierre Jackson.
On July 7, the team signed No. 3 overall draft pick Jahlil Okafor. Philadelphia led all teams with six draft picks at the 2015 NBA draft and own two top-five lottery picks in the 2016 draft.