Philadelphia 76ers free agent forward Paul Reed Jr. has signed an offer sheet with the Utah Jazz, according to his agent, Ron Shade of Octagon Basketball. The three-year deal is worth $23 million and includes an interesting twist.
The offer sheet states that the first season of the contract is fully guaranteed, while the following two seasons will become guaranteed if Reed’s team advances to the conference semifinals in the 2023-24 season. This means that the Sixers would likely have to guarantee the $15.7 million total for the 2024-25 and 2025-26 seasons, rather than the Jazz.
The Sixers now have until 11:59 p.m. ET on Sunday to decide whether to match the offer sheet and retain Reed or let him go to the Jazz. However, if they choose to match the offer, they would exceed the $165 million luxury tax threshold and face an additional $14 million in luxury tax penalties. Additionally, Reed would have veto power on trades for a year if he remains in Philadelphia.
Reed had an impressive season with the Sixers, playing in 69 games and averaging 11.8 points and 11.5 rebounds in four starts in the 2022-23 season, including the regular and postseason. He made a significant impact in his first playoff start, scoring 10 points and grabbing 15 rebounds in Game 4 against the Brooklyn Nets. Reed became the first Sixers player since Samuel Dalembert in 2005 to score 15 points in his postseason debut.
It remains to be seen whether the Sixers will match the offer sheet and retain Reed or let him go to the Jazz. The decision will have financial implications for the team, but Reed’s performance last season suggests that he could be a valuable asset for any team he joins.
What factors are the Philadelphia 76ers considering in deciding whether to match the offer sheet and keep Paul Reed Jr.
Philadelphia 76ers free agent forward Paul Reed Jr. is attracting attention from the Utah Jazz, as reported by his agent, Ron Shade of Octagon Basketball. Reed has signed a three-year offer sheet with the Jazz worth $23 million. However, this deal includes an interesting twist.
The offer sheet stipulates that the first season of Reed’s contract is fully guaranteed. The subsequent two seasons will only become guaranteed if the Sixers advance to the conference semifinals in the 2023-24 season. This means that Philadelphia would likely have to guarantee a total of $15.7 million for the 2024-25 and 2025-26 seasons, rather than the Jazz.
The Sixers now have until 11:59 p.m. ET on Sunday to decide whether they will match the offer sheet and keep Reed or let him go to the Jazz. However, matching the offer would push them over the $165 million luxury tax threshold and result in $14 million in luxury tax penalties. If Reed remains in Philadelphia, he would also have veto power on trades for a year.
Reed had an impressive season with the Sixers, playing in 69 games and averaging 11.8 points and 11.5 rebounds in four starts during the 2022-23 season, including both the regular season and playoffs. He made a significant impact in his first playoff start, scoring 10 points and grabbing 15 rebounds in Game 4 against the Brooklyn Nets. By achieving this feat, Reed became the first Sixers player since Samuel Dalembert in 2005 to score 15 points in his postseason debut.
The decision on whether the Sixers will match the offer sheet and retain Reed or let him go to the Jazz remains uncertain. While financial implications are at stake, Reed’s performance last season indicates that he could be a valuable asset for any team fortunate enough to acquire him.
“Exciting to see Paul Reed Jr.’s career taking off! Best of luck in Utah. Looking forward to watching you make an impact on the court with the Jazz!”
“Excited to see how Paul Reed Jr.’s talent and potential develop as he joins forces with the talented Utah Jazz roster. Looking forward to watching his growth in the upcoming season!”