The Philadelphia 76ers signed Joel Embiid to a three-year, $192.9 million contract extension, which will run through the 2028-29 season. The contract will make Embiid just the 5th player to reach $500 million in career earnings.

“I started a Sixer and want to be right here for the rest of my career,” Embiid said in a statement issued by the team. “Through all the ups and downs, this city and the fans have been everything, and I am so grateful for how they’ve embraced me.”

Derek Bodner and Devon Givens break down the massive news.