Report: Sixers, Kelly Oubre agree to two-year, $16.3 million deal

Sixers, oubre
Philadelphia 76ers’ Kelly Oubre Jr. reacts after a basket during the first half of an NBA basketball game against the Chicago Bulls, Tuesday, Jan. 2, 2024, in Philadelphia. (AP Photo/Matt Slocum)

A key role player for the Philadelphia 76ers is officially returning as the Sixers have agreed to a two-year, $16.3 million deal to bring back wing Kelly Oubre.

ESPN’s Adrian Wojnarowski was the first to report the deal, which, according to his report, includes a player option for the 2025-2026 season.

At this time last season, Oubre was attempting to figure out where his next NBA home would be. His options were far from what he expected, and Oubre eventually decided to bet on himself, signing with the Sixers for the veteran’s minimum. While he did turn down more money elsewhere, it was not what the former first-round pick expected.

By signing with a contender and proving himself as a teammate and a contributor to winning basketball, Oubre dispelled certain narratives attached to him in the past and has now been rewarded for his efforts.

Oubre quickly became a key role player for Philadelphia. He was often tasked with being the team’s third scoring option, a task well above the pay grade of a player making the vet minimum. Averaging 15.4 points was of great significance on a team starved for offense outside of Joel Embiid and Tyrese Maxey.

Still, there was always a smile on Oubre’s face and never a complaint from his mouth, as he was ready to support his teammates, no matter what they needed from him.

Whether it was baring a portion of the scoring load or taking the top defensive assignment, Oubre showcased his versatility in Philadelphia, earning a well-deserved payday in the process.

It was not just during the regular season either, as Oubre was among the team’s top performers against the Knicks in the postseason, averaging 13.4 points while shooting 39.1 percent from three on nearly four attempts per game.

What’s more, after the season, Oubre is eligible to opt out of his deal and re-sign with the Sixers using what’s known as “Early Bird Rights.” Essentially, as Oubre will have gone two seasons without changing teams via free agency, he will become eligible to be re-signed even if the Sixers are over the cap. The limitations of Early Bird Rights are that a starting salary of around $14 million for up to four years.

Should the marriage between the Sixers and Oubre continue to go well, it would be no surprise to see such a deal be struck after the season.

Regarding this deal, it appears the Sixers will be utilizing the entirety of the Room Mid-Level Exception, confirming that their earlier signing of Andre Drummond was directly into cap space. Philadelphia should roughly have $9 million of remaining cap space should they waive Paul Reed now that Paul George has been signed to a max contract.

For now, Oubre is back in the City of Brotherly Love and has a chance to be a part of the team’s redemption for their first-round loss. With the expected addition of Paul George and the signings of Andre Drummond and Eric Gordon, the roster is beginning to take form for Philadelphia.