As part of Simmons’ five-year, $177.2-million contract extension, he chose to receive 25% of his salary for every season on July 1 and Oct. 1, according to ESPN’s Tim Bontemps and Bobby Marks. The remaining 50% is paid out in 12 installments starting Nov. 15.
Simmons’ camp believes the All-Star guard will be paid the $8.25 million after a trade is completed, NBA insider Marc Stein reports.
For the time being, Simmons’ salary has been placed in an escrow account and any fines issued to him for not reporting to the 76ers will be deducted from that amount, per Bontemps, Marks, and Brian Windhorst of ESPN.
Philadelphia kicks off their preseason campaign Monday against the Toronto Raptors. The former No. 1 overall pick will lose $227,613 from his $8.25 million salary for each game missed, according to ESPN’s Bobby Marks.
Simmons apparently asked the 76ers’ brass for a trade in August. He has reportedly shut down his teammates’ attempt to convince him to stay and believes his time alongside co-star Joel Embiid has run its course.
Simmons averaged 14.3 points, 7.2 boards, 6.9 assists, and 1.6 steals over 58 appearances last season. The Australian finished second to Utah Jazz center Rudy Gobert in the 2020-21 Defensive Player of the Year voting.