Philadelphia 76ers decided to match a 3-year $23 million offer sheet on Paul Reed.
Paul Reed will remain with the Philadelphia 76ers after the team decided to match the offer sheet he received from the Utah Jazz, according to Adrian Wojnarowski from ESPN.
Reed was a restricted free agent, and the Jazz offered a 3-year $23 million deal.
The offer sheet provided a unique twist on Reed's contract: The first season is fully guaranteed, but the next two seasons, worth $15.7 million, become guaranteed if the Sixers advance to the Eastern Conference semifinals.
Given where the two franchises stand, it was more likely the Sixers would have to guarantee those 2024-25 and 2025-26 seasons than the Jazz.
However, Reed signed the offer sheet on Saturday morning, and the Sixers waited until 90 minutes prior to the 11:59 p.m. ET Sunday deadline to inform Utah that they matched the sheet.
Now Reed has veto power on any trade and can't be moved to Utah for a full year.
During the 2022-23 season, Reed averaged 4.2 points and 3.8 rebounds in 69 appearances. However, he performed even better during the playoffs, averaging 4.6 points and 5.5 rebounds as Joel Embiid's backup.
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