The Philadelphia 76ers believe they might've found a diamond in the rough with the former DePaul standout, Paul Reed.

Back in November, Reed was patiently waiting to hear his name called on draft night. As the 2020 NBA Draft went through the first round, Reed hadn't received a phone call from any teams.

As the second round progressed, Reed was headed into undrafted territory. However, when the Sixers were on the clock with the 58th pick, Reed's time had come. He was Philadelphia bound after getting a call from Sixers President of Basketball Operations Daryl Morey.

Typically, late draft picks are a longshot to make an NBA roster. Sometimes, late-round selections will find themselves waived after training camp. Other times, players land two-way contracts. Reed ended up becoming the latter.

With a two-way deal inked, Reed was guaranteed to play for Philly's G League affiliate, the Delaware Blue Coats, down in the Orlando bubble this past winter. Going into the season with low expectations, Reed ended up emerging as one of the most exciting prospects in the entire G League.

In 15 games, Reed averaged 22 points and 11 rebounds. Thanks to his standout contributions, the Blue Coats made the NBA G League playoffs for the first time in franchise history. And although Delaware made it to the G League Finals, they came up short against the Lakeland Magic.

The Blue Coats might've lost the big game in the end, but one of their own kept on winning beyond the season. Not only did Reed get named the G League MVP, Rookie of the Year, All-NBA G League First Team, All-Rookie Team, and All-Defensive Team, but he also earned himself a standard NBA contract a couple of weeks later.

On Friday night, the Sixers announced that Reed would take up one of the vacant spots on the main roster. To replace Reed, former Arkansas shooting guard Mason Jones joined the Sixers to take the second two-way slot alongside Rayjon Tucker. 

According to Derek Bodner of The Athletic, Reed's new deal is a three-year contract. The rookie guard will make the league's minimum over that span. Per Bodner's report, the next and final two years of the contract are not guaranteed. 

Justin Grasso covers the Philadelphia 76ers for Sports Illustrated. You can follow him for live updates on Twitter: @JGrasso_ & Instagram: @JGrassoNBA.