Tyrese Maxey agrees to max contract extension with Sixers, source says

PHILADELPHIA (CBS) — The Philadelphia 76ers and point guard Tyrese Maxey agreed to a max contract extension Monday morning, a source confirmed to CBS News Philadelphia.

The Sixers and Maxey agreed in principle to a five-year, $204 million extension, the source confirmed.

ESPN's Adrian Wojnarowski was the first to report the extension and added Maxey's deal is fully guaranteed with no options.

Per NBA rules, the Sixers and Maxey can officially sign the contract Saturday, when the league's free agency moratorium period ends.

Maxey's extension comes hours after news broke the Sixers intend to sign free agent Paul George to a four-year, $212 million deal. Philadelphia had a busy Sunday, agreeing to contracts with free agents after the NBA's moratorium period began. The moratorium period ends at noon Saturday.

The 23-year-old continued his ascent from the 21st overall pick in the 2020 NBA draft to becoming the Sixers' second star behind former MVP Joel Embiid . Maxey will team with Embiid and George to try to go on a deep playoff run in 2024-25.

Maxey is coming off his first NBA All-Star Game appearance, averaging a career-high 25.9 points, 6.2 assists and 3.7 rebounds. He had three 50-plus point performances last season — including a career-high 52 points against the San Antonio Spurs on April 7.

Last season, Maxey won both the NBA's Most Improved Player of the Year Award and Sportsmanship Award .