The Sixers and their prized draft pick made it official Saturday.
Markelle Fultz is set to make $5.8 million next season, but the Maryland native will likely see 20 percent more, the Philadelphia Inquirer reports.
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The No. 1 overall pick signed his rookie contract in front of his mother, Ebony, and trainer, Keith Williams, among others, according to the Inquirer.
The 19-year-old guard suited up twice for the Sixers in the Utah Summer League this week, averaging 20 points and 3 assists per game. He is also slated to start the team's Las Vegas Summer League opener against the Golden State Warriors Saturday night, which tips off at 10:30 p.m. (EST).
In his freshman year at the University of Washington, Fultz averaged 23.2 points, 5.7 rebounds and 5.9 assists in 25 games.
The Sixers also officially announced their free-agent signings of J.J. Redick and Amir Johnson on Saturday. Redick is set to earn $23 million on a one-year deal, and Johnson received a one-year, $11 million contract.