76ers Stick to Plan Regarding Tyrese Maxey Extension

On Monday afternoon, the NBA put a deadline in place for teams to extend their members from the 2020 NBA Draft. Tyrese Maxey of the Philadelphia 76ers was extension eligible, as he was the team’s 21st overall pick that year.

As expected, Maxey did not receive an extension from the Sixers.

It’s not time to sound the alarms for Philadelphia regarding their young emerging star. During the offseason, it was reported the Sixers were going to hold off on extension talks with Maxey to preserve cap space for the following offseason when the Sixers get a couple of significant contracts off the books.

When the Sixers held their annual media day earlier this month, Maxey addressed the reports, noting his appreciation for the organization for taking a shot on him out of Kentucky a few years ago.

“I’m grateful for them taking the chance at me and drafting me 21,” Maxey stated. “I feel like I’ve tried to give them all to this organization. I work hard every single day, and I’m just going to focus on the season right now. I’m focusing on how we can get better, I can be better. At the end of the day, like I said, it’s a competition. We have one goal in mind, and I love Philly. I know this is the business. I know this is how it goes, and I’m a happy person. This is my life. I’m happy with it.”

Later on in October, Maxey addressed the lack of extension talks with the 76ers once again during a sit-down with Yahoo Sports’ Jake Fischer. While he described the situation as “tough” when there are expectations in play, Maxey made it clear that he won’t mope on the court without an extension. Rather, he’ll use it as another opportunity to prove he deserves the big contract.

“I just look at it as I’m gonna go out there and still play, I’m still on the 76ers." Maxey told Yahoo Sports. "I love it here, and I want to help us win, and at the end of the day, that’s my contract, and that’s what I’ll fulfill. I love Philly. And we’ll see what happens.”

A handful of key players from the 2020 NBA Draft failed to reach an extension with their respective teams on Monday by the time the deadline kicked in, and Maxey falls under that category.

However, no extension doesn’t equal a lack of interest on Philadelphia’s behalf. It would be difficult to assume the Sixers don’t value Maxey highly. After all, he’s improved all areas of his game since his rookie effort and is viewed as a potential first-year All-Star in 2024 by publications that cover the league.

Maxey will play on a reported $4.3 million option for the 2023-2024 season. Then, next summer, he’ll hit the free agency market for the first time in his career as a restricted prospect. The Sixers will be able to extend a qualifying offer of $6.2 million, according to Spotrac. If another team offers Maxey a multi-year deal, Philadelphia will have an opportunity to match it, bringing him back to the Sixers on the same terms.

For the time being, Maxey will keep his mind off the extension discussion and focus on his fourth year in the NBA.