Ben Simmons is about to get paid. The 76ers point guard and the team agreed to a five-year, $170 million contract extension Monday, according to a league source.
This comes as no surprise as the team and Simmons' agent, Rich Paul, have been working out details since July 2. The max extension was originally believed to be $168.2 million. However, it's actually higher than $170 million because of the new salary cap projections.
The extension, which begins during the 2020-21 season, is the richest contract ever for an Australian. Simmons could receive over $200 million if he makes an All-NBA team this season.
The 22-year-old averaged 16.9 points, 8.8 rebounds and 7.7 assists last season. He had 10 triple-doubles last year and has 22 for his career. He joins Hall of Famer Oscar Robertson as the only NBA players with at least 10 triple-doubles in each of their first two seasons.
Cavaliers waive J.R. Smith
The Cavaliers waived colorful shooting guard J.R. Smith, ending his eventful tenure with the team.
Cleveland had been trying to trade Smith, who had one year left on his contract for $15.6 million, but the team couldn't find the right package and released him to make space under the salary cap and avoid paying luxury taxes.
Smith's days were numbered when he agreed to leave the club in November after 11 games. The 33-year-old has averaged 12.5 points on 42% shooting (37% from three-point range) and could play strong defense when motivated over his 15-year career.