Philadelphia 76ers: Details Emerge Regarding Daryl Morey's Deal

On Monday, the Philadelphia 76ers made a significant addition to the team's front office. After spending months searching for ways to improve the front office, which admittedly failed in 2019-2020, the team added one of the NBA's most respected executives in Daryl Morey.

“Daryl Morey is one of the very best front-office executives in the NBA, and I’m thrilled to welcome him to Philadelphia as the 76ers President of Basketball Operations,” said Sixers Managing Partner, Josh Harris, on Monday.

“Talent like Daryl rarely becomes available, so we moved quickly and aggressively to bring him here," Harris continued. "He has an extraordinary track record of success in this league as an innovator, visionary, and leader, and I believe he significantly improves our chances of delivering a championship-caliber team to our fans."

Last month, when Morey stepped down from his position as the Houston Rockets General Manager, the Sixers wasted no time reaching out. Although Morey planned to take a year off to regroup -- the opportunity to work with the Sixers was a desirable situation for him. Plus, the 76ers weren't stingy with Morey's contract offer.

"Specific figures were not announced, but some insist that the deal tops the five-year, $60 million contract that Phil Jackson reportedly received when he was named team president by the Knicks. The Sixers, citing team policy, declined to discuss the contract specifics when asked this week."

According to Marc Stein of the New York Times, Morey is believed to be earning upwards of $10 million a season to oversee the Sixers' front office operation. Per Adam Hermann of NBC Sports Philadelphia, Morey's contract could make him one of the highest-paid sports executives in the country.

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