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Report: Nemanja Bjelica backs out of contract agreement with 76ers to return to Europe

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Nemanja Bjelica had his $4,937,499 qualifying offer pulled by the Timberwolves (so they could sign Anthony Tolliver while remaining out of the luxury tax).

Bjelica rebounded with the 76ers, agreeing to take the $4,449,000 room exception for one year.

But…

Adrian Wojnarowski of ESPN:

DeAndre Jordan 2.0? Maybe. We don’t know exactly what, if any, contingencies Bjelica and Philadelphia put on the agreement.

A key distinction: Jordan pledged to sign with the Mavericks and reneged all during the July moratorium, when he couldn’t officially sign. Bjelica’s deal with Philadelphia came out a day before the moratorium ended, and he could have signed during the last 11 days.

Teams often delay signing players with the room exception, because they can exceed the cap with it. But the 76ers have long used up their cap space. Unless they have a bigger deal in mind and asked Bjelica to wait just in case, they should have known for a while something might be amiss.

Bjelica is better than any remaining unrestricted free agent, so he won’t be easily replaced. Philadelphia will probably hold its room exception for potential buyout players, as it’s unclear anyone available could command more than a minimum salary.

The 76ers certainly viewed Bjelica as a replacement for Ersan Ilyasova, who left for the Bucks. Depth matters, but at least Philadelphia still has a stretch four in Dario Saric, who improved his range (and a lot more) last season.

Bjelica’s defection will also help, though not solve, the 76ers’ roster crunch. They still have 16 players clearly getting standard contracts – one more than the regular-season limit – and 2017 second-round Jonah Bolden has stated a plan to sign with Philadelphia for next season. So, the 76ers might have to buy out Jerryd Bayless and/or waive players like Justin Anderson and Furkan Korkmaz.

76ers take 1 big step (and a couple smaller ones, too)

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NBCSports.com’s Dan Feldman is grading every team’s offseason based on where the team stands now relative to its position entering the offseason. A ‘C’ means a team is in similar standing, with notches up or down from there.

Even the NBA’s worst team has only a 25% chance of getting the No. 1 pick in the lottery.

The 76ers made their own luck.

Philadelphia finished with the league’s fourth-worst record, fell to No. 5 in the lottery, swapped picks with the Kings to move up to No. 3 thanks to a two-year-old trade then traded up to No. 1 by enticing the Celtics with a future draft pick (another pick acquired in that heist of Sacramento, a Lakers pick or one of the 76ers’ own).

Whew, that’s some Process.

No. 1 pick Markelle Fultz is the latest prize in the 76ers’ reverse engineering of the NBA’s system, joining Joel Embiid and Ben Simmons. That’s an exciting young core that might be ready to lift Philadelphia from years of tanking to playoff contention.

To that end, the 76ers signed J.J. Redick to a one-year, $23 million contract. The 33-year-old has already shown signs of decline, but he’s an upgrade over any shooting guard on the roster. If their other young players are ready to make the leap, the 76ers didn’t want to learn the hard way they were a starting shooting guard short of reaching the postseason. In securing an immediate boost, Philadelphia essentially paid extra for flexibility. Redick’s salary will almost certainly outpace his production, the 76ers ensured no lasting negative effects beyond this season.

The same logic could apply to Amir Johnson, who signed a one-year, $11 million contract. But Philadelphia’s frontcourt depth and the dreary market for bigs make that deal less defensible – especially if Johnson’s salary could have been reappropriated for Kentavious Caldwell-Pope (who surprisingly became an unrestricted free agent) or paying Robert Covington more up front (as opposed to in future seasons, when the savings might matter more) in a renegotiation-and-extension.

With about $15 million in cap space remaining, the 76ers will likely still renegotiate-and-extend Covington once they can in November. He fits well into a deep crop of solid assets beyond the big three: Dario Saric, Richaun Holmes, Timothe Luwawu-Cabarrot, Jahlil Okafor, Justin Anderson, T.J. McConnell, Nik Stauskas, Furkan Korkmaz (the No. 26 pick last year who signed this year), all Philadelphia’s own future first-rounders plus one extra (from either the Kings or Lakers – or both, if if Philadelphia’s own pick is conveyed to Boston). The 76ers even added to the pool this summer with a couple draft-and-stash selections – No. 25 pick Anzejs Pasecniks and No. 36 pick Jonah Bolden (who I’m personally quite high on).

That grouping alone would be envy of many teams. And then there are still Embiid, Simmons and Fultz – the trio that will determine how quickly the brighter days ahead arrive in Philadelphia.

The 76ers’ revival is built on Embiid’s back – and feet and knees. He could be a generational player, but injuries have already cost him 215 games in three years and limited him to just 25 minutes per game in the 31 he has played.

Though it’s the one that looms far beyond, Embiid’s health isn’t the only potential pitfall this season. Rookie point guards – whether it be Fultz or Simmons – rarely lead good teams. It’s a position that typically requires fine-tuning.

Still, this is just the start in Philadelphia. Making the playoffs this season would be nice, but bigger goals down the road appear attainable either way.

The 76ers were in great shape entering the summer. They’re in even better shape now.

Offseason grade: B