The Philadelphia 76ers made a bold move with oft-injured star big man Joel Embiid. ESPN's Adrian Wojnarowski reported that league sources informed him that the two sides have agreed to an extension. Meanwhile, the New York Knicks because the latest NBA team to agree to wear an advertising patch on their jerseys. The league's most valuable franchise, made the deal with Squarespace, according to Forbes

76ers and Embiid agree to major extension

Joel Embiid and the Philadelphia 76ers agreed to a five-year, $148 million max extension as designated under the league's rookie wage scale. League sources also told Wojnarowski that Embiid can earn up to an additional $30 million if he makes an All-NBA team or is named MVP this season.

His contract also includes some salary-cap protection in the event Embiid sufferers an injury that causes him to miss an exceptional amount of playing time. Sources also added that his contract has a complicated structure and that the team would have to waive the big man for him to not reach the maximum value of the extension.

This deal does represent a major leap of faith for the 76ers, even with the protection put in the extension. Embiid just got cleared to start practicing in 5-on-5 drills last week as he is close to fully recovering from the surgery he had on the torn meniscus in his left knee back in March.

Since he was drafted third overall in the 2014 NBA Draft, Embiid has only played in 31 out of a possible 246 games. However, he did show his value last season as the team went 13-18 with him playing only 25.4 minutes per game.

According to NBA.com's Joe Schuhmann, the 76ers outscored teams by 3.2 points per 100 possessions with Embiid, as opposed to being outscored by 7.9 points without him.

Knicks agree on deal to wear advertising patch

The New York Knicks announced that they have become the latest team to wear an advertising patch on their jerseys, agreeing to a multiyear deal with publishing platform Squarespace. Specific terms of the deal were not released but the Knicks have now become the 17th team to sign a patch deal.

Besides the patch, Squarespace and the Madison Square Garden Company will provide financial support and digital advertising to local small business that utilizes the publishing platform. The team also announced that they would immediately start selling the jerseys with the patches on them inside Madison Square Garden at the team store.