Simmons's new deal will be for five years and $170 million.
Ben Simmons has agreed to a five-year extension with the Philadelphia 76ers, the team announced Tuesday. Simmons's new deal is a reported $170 million maximum contract extension, The Athletic's Shams Charania reported on Monday.
The deal does not have an option in the final year and includes a 15% trade kicker, ESPN's Adrian Wojnarowski added Tuesday. Simmons also reportedly has Designated Rookie Extension language in his contract that would elevate his compensation if he earns a spot on one of the All-NBA teams in 2019-20.
"Ben Simmons is an important piece of our core and he is one of the NBA's most dynamic and talented young players," 76ers general manager Elton Brand said in a statement. "It was a priority for our organization that we finalize a contract extension with Ben this summer. He was Rookie of the Year in his first season, an All-Star in his second and we expect him to continue to grow and succeed for seasons to come."
Simmons and the Sixers began working on a new deal after Philadelphia lost All-Star Jimmy Butler to the Miami Heat in free agency. The Sixers also signed forward Tobias Harris to a five-year extension and added five-time All-Star Al Horford to the roster on a four-year deal.
Simmons, 22, was the No. 1 overall pick in the 2016 draft. He missed his first year with a foot injury but emerged as the NBA Rookie of the Year in 2017 by averaging 15.8 points, 8.1 rebounds and 8.2 assists per game that season.
Last year, the 6'10" point guard averaged 16.9 points, 8.8 rebounds and 7.7 assists per game and earned his first All-Star nod.
The 76ers finished the 2018 regular season 51–31 before falling to the eventual champion Toronto Raptors in the Eastern Conference Finals.