The Philadelphia 76ers matched Paul Reed's three-year, $23 million offer sheet from the Utah Jazz, sources told Adrian Wojnarowski of ESPN.

With Reed signing the offer sheet on Saturday morning, the Sixers waited until late Sunday night to match the offer.

Reed has veto power on any trade and cannot be dealt to the Jazz for a year.

With the first season of the deal fully guaranteed, the last two years become guaranteed should Reed's team reaches the conference semifinals in 2023-24.

The Sixers are projected to be $6.6 million over the luxury tax, according to Bobby Marks.