The Philadelphia 76ers have agreed to a contract extension with president of basketball operations Daryl Morey, according to Adrian Wojnarowski of ESPN. Morey's tenure with the Sixers began in 2020 and the extension will add three seasons to the original five-year contract he signed with the franchise.

The team officially announced the extension following the report. As Wojnarowski pointed out, the contract extension aligns with that of head coach Nick Nurse, who Morey hired this past offseason. The Sixers' ownership group is clearly pleased with the job they have done so far this season and trusts that they can put a championship-caliber team and system around Joel Embiid.

“I want to express my appreciation to Josh Harris and David Blitzer for their unwavering support and confidence. Together, we are committed to bringing a championship to Philadelphia,” Morey said in a press release from the Sixers. “I love this franchise and the relationship my family and I have built with our fans and this city. There’s no place I’d rather continue this journey than here.”

Daryl Morey joined the Sixers after stepping down as the general manager of the Houston Rockets, immediately reversing some of the decisions made by Philly's previous front office and helping the team become the first seed in the Eastern Conference in the 2020-21 season.

The Sixers' roster has gone through numerous, massive changes since then. Ben Simmons grew unhappy with the franchise and held out in the hopes of forcing a trade. Morey traded him to the Brooklyn Nets, along with other players and draft picks, in a move that brought James Harden to Philly. After a season and a half reunited, Harden felt snubbed by the franchise and demanded a trade of his own. The relationship between him and Morey fractured, notably after he publicly called Morey a liar.

This post offseason, Morey fired head coach Doc Rivers, who was hired before Morey joined the franchise, and hired Nurse, whom he had once hired as head coach of the Rockets' D-League (now G League) team, the Rio Grande Valley Vipers. Morey traded Harden to his destination of choice, the Los Angeles Clippers, in the early goings of this season as the Sixers have gotten out to a very impressive start. They have the very best net rating in the NBA and boast a 16-7 record.

With Nurse helping Embiid reach another level, continuing the development of Tyrese Maxey and making the Sixers one of the most dangerous offenses in the NBA, Morey has immense confidence in his team and has found a way to set it up nicely for the future. The Sixers have numerous first-round picks to trade and can open up over $56 million of cap space this offseason.

“Daryl is one of the best front office executives in sports and I greatly value his leadership,” said Harris, the Sixers' managing partner, in the team's announcement. “I’m thrilled to have reached an agreement to extend his contract and look forward to working together to maximize our chances of competing for an NBA title.”