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Rumor: Daryl Morey’s 76ers salary exceeds $10M, maybe $12M

76ers president Daryl Morey

ORLANDO, FL - JULY 23: Daryl Morey, GM of the Houston Rockets, talks on the phone during practice as part of the NBA Restart 2020 on July 23, 2020 in Orlando, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2020 NBAE (Photo by Bill Baptist/NBAE via Getty Images)

NBAE via Getty Images

Daryl Morey said he resigned as Rockets general manager to spend more time with his family.

A week-and-a-half later, Morey was the 76ers’ new president.

How did Philadelphia lure him?

Marc Stein of The New York Times in his newsletter:

Industry insiders estimate that Morey received a salary in excess of $10 million annually. Specific figures were not announced, but some insist that the deal tops the five-year, $60 million contract that Phil Jackson reportedly received when he was named team president by the Knicks.

That’s a huge salary for a lead executive. Good for 76ers owner Josh Harris. There’s no salary cap on the front office.

Also good for Harris spending on a strong choice. Morey proved himself as an excellent general manager in Houston. If willing to pay so much, it seems wise to get someone who has already shown an ability to do the job well.

Joel Embiid and Ben Simmons are a tricky fit. But Morey has the chops to build a supporting cast around them – or maybe eventually trade one. Or both! Morey is a wheeler-dealer.

Philadelphia also spent big to get Doc Rivers. All this indicates a plan to follow through on paying the luxury tax next season.

After underwhelming last season, the 76ers are paying to give themselves the best chance of succeeding. But Harris will surely expect high return on his large investments in president, coach and, presumably, roster.