The Sixers made offseason money moves that haven’t paid off. Here’s how it might set the team back for years to come

The 76ers find themselves in a worse state than in March of 2017.

That became evident following Thursday’s loss to the Boston Celtics at TD Garden. Their 14th defeat in 16 games dropped the Sixers to 21-41.

It also dropped the organization to 20 games below .500 for the first time since being 28-48 following a 122-105 loss to the Cleveland Cavaliers on March 31, 2017.

The Sixers would lose their remaining six games to finish the 2016-17 season with the league’s fourth-worst record of 28-54.

But back then, the Sixers had hope.

While Joel Embiid played only 31 games that season due to a torn meniscus in his left knee, he already established himself as one of the league’s best young centers. Ben Simmons sat out the entire season with a fifth metatarsal bone fracture in his right foot after being the first pick in the 2016 NBA draft.

But there was anticipation that the 6-foot-10 point guard would play alongside Embiid beginning with the 2017-18 campaign.

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The Sixers also knew they had a top lottery pick coming in the 2017 NBA draft. And they had available cap space to outbid teams for veteran free agents.

That summer they went on to draft Markelle Fultz first overall and signed JJ Redick and Amir Johnson in free agency to fill immediate needs.

Not only did the team finish the 2017-18 regular season with a 52-30 record, it started a current streak of seven consecutive playoff appearances.

Despite this season’s lofty preseason expectations, the Sixers will be lucky to extend that streak. The Eastern Conference’s 11th-place team is four games behind the 10th-place Chicago Bulls for the final Play-In Tournament spot with 20 games remaining.

Even if the Sixers got the 10th spot, they would need to win two play-in games just to advance to the first round, where the Cleveland Cavaliers or Celtics would most likely be licking their chops.

But they have bigger things to worry about than extending their postseason streak.

One can argue that the front office’s decisions this past offseason could set the team back for the next five seasons.

Looking to make a free agency splash, the Sixers signed Paul George to a four-year, $211.5 million maximum salary contract in July. It came amid celebration for adding the nine-time All-Star forward to form a Big Three alongside Embiid and Tyrese Maxey.

The problem is, George is having a tough time creating separation while averaging 16.5 points, the fourth-lowest average of his 15 seasons. And the 34-year-old has also lived up to his reputation as being injury-prone.

The 6-8, 220-pound forward will miss at least two more games with the left groin ailment that sidelined him Thursday night against the Boston Celtics. The Sixers will entertain the Utah Jazz on Sunday at the Wells Fargo Center before visiting the Atlanta Hawks on Monday.

After those games, George will have missed 23 of the Sixers’ 64 contests because of injuries and load management.

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But that’s nothing compared to Embiid.

The 2023 league MVP and seven-time All-Star has only played in 19 games this season while struggling to gain full strength in his left knee after undergoing another meniscus surgery last February. That surgery and other ailments limited his 2023-24 season to 39 games.

Despite that, the Sixers signed Embiid, who turns 31 next Sunday, to a three-year, $192.9 million maximum extension that will keep him under contract through the 2028-29 season. Embiid is set to make $69 million in the final year of his deal. And his career earnings will swell to $514.8 million, the fourth highest in NBA history behind LeBron James, Stephen Curry, and George.

The Sixers also signed Maxey to a five-year, $203.8 million maximum salary in July.

Due to lack of production, injury history, and the number of seasons remaining on their deals, the Sixers will have a tough time trading Embiid and George.

As a result, the team finds itself in a huge financial bind.

So far, the Sixers could have $198.9 million tied to up to 12 players next season with the bulk of the money going to Embiid ($55.2 million), George ($51.6 million) and Maxey ($37.9 million).

The problem is that the league’s projected salary cap for the 2025-26 season is around $154.6 million, and the luxury tax threshold is projected to be around $187.9 million. In addition, the projected NBA second apron, a financial threshold that limits how teams can spend money on their rosters, is roughly $207.8 million.

That’s not good for a team whose first-round pick in June’s NBA draft will go to the Oklahoma City Thunder unless it falls in the top six during May’s draft lottery.

In addition to being in salary-cap hell and possibly without their first-rounder, the Sixers’ championship window is closing.

The youthful Cavs (53-10) have the NBA’s best record and should remain an elite team for several seasons.

However, the defending league champion Celtics (46-18) should be favored to win the East and another NBA crown. The New York Knicks will remain contenders for seasons to come. The same for the Milwaukee Bucks if Giannis Antetokounmpo stays there. The Indiana Pacers, the Orlando Magic, and the Detroit Pistons have all improved.

Meanwhile, the Sixers could continue to be a play-in contending team with more than $578.7 million invested in Embiid, George, and Maxey over the next several seasons.

Unlike in 2017, it’s tough to consider this team’s future resembling anything bright.

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