The deal does not include any options, according to Brothers.
Coming off a championship with the Los Angeles Lakers in the bubble, Green was traded to Oklahoma City and then flipped to Philadelphia in a subsequent deal, where he provided a steady outside presence to keep defenses honest against Joel Embiid.
Green is coming off a two-year, $30 million deal he signed to join the Lakers in the summer of 2019. The 12-year veteran had a steady regular season for Philadelphia, averaging 9.5 points while shooting 40.5 percent on 3s to go with strong defense.
However, a calf strain suffered early in the 76ers' second-round series against the Atlanta Hawks cut his postseason short.
Green, a three-time champion with three franchises, was widely praised for his leadership in the locker room during Doc Rivers' first year in Philly.
ESPN's Dave McMenamin contributed to this report.
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