Sixers Restricted Free Agent Paul Reed Reportedly Signs Three-Year Offer Sheet With Jazz

Paul Reed, a restricted free agent, has reportedly signed a three-year offer sheet with the Utah Jazz. Multiple reports say the Philadelphia 76ers now have 48 hours to match the deal or let the big man leave. ESPN reports the offer is worth $23 million.

Reed, 24, became the Sixers' backup center during the second half of last season. He averaged 4.2 points and 3.8 rebounds across a career-high 69 regular-season games, serving as the main understudy to Joel Embiid. His high-energy style and the nickname "BBall Paul" have made him popular with fans.

The news arrives less than two days after forward Montrezl Harrell agreed to re-sign with Philadelphia on a one-year deal. Harrell's return was a surprise, since he had lost the backup job to Reed and had first turned down his player option for 2023-24 to become an unrestricted free agent. Earlier this week, the Sixers also agreed to sign center Mo Bamba to a one-year contract.

Reed was a second-round pick out of DePaul in 2020. He was named the G League's Most Valuable Player while playing for the Delaware Blue Coats in his rookie season. During the 2021-22 campaign he split his time between the Sixers and the Blue Coats, before moving into the backup center role during the playoffs.

The offer sheet reportedly includes an unusual condition. The first season is fully guaranteed, but the following two seasons become guaranteed only if Reed's team reaches the second round of the playoffs in 2023-24.

The two teams sit in very different places. The Jazz are still rebuilding after trading former stars Donovan Mitchell and Rudy Gobert last summer. The Sixers, by contrast, are in win-now mode, anchored by reigning NBA Most Valuable Player Joel Embiid.