Philadelphia 76ers offer max contract extension to Ben Simmons

July 2 (UPI) -- The Philadelphia 76ers offered All-Star guard Ben Simmons a maximum contract extension to remain with the franchise.

League sources told ESPN and the Philadelphia Inquirer on Tuesday that the Sixers presented a five-year, $170 million deal to Simmons and his agent, Rich Paul. Both sides are working through contract details in hopes of reaching a quick agreement.

76ers general manager Elton Brand and Simmons' team have until mid-October to reach a rookie contract extension. According to ESPN, the sides are expected to reach a signed agreement sooner than the deadline.

The 76ers selected Simmons with the No. 1 overall pick in the 2016 NBA Draft out of LSU. He was named the 2018 NBA Rookie of the Year and has developed into a key piece of Philadelphia's team.

The 22-year-old guard averaged 16.9 points, 8.8 rebounds and 7.7 assists per game last season. In 160 career games in the league, Simmons has averaged 16.4 points, 8.5 rebounds and 7.9 assists per contest.

The 6-foot-10 guard helped guide the Sixers to the Eastern Conference semifinals last season. The NBA champion Toronto Raptors defeated Philadelphia in seven games.