NEW YORK, NY - JUNE 23: Ben Simmons celebrates after being drafted first overall by the Philadelphia 76ers in the first round of the 2016 NBA Draft at the Barclays Center on June 23, 2016 in the Brooklyn borough of New York City. 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. (Photo by Mike Stobe/Getty Images)

Ben Simmons officially inks his rookie contract

That's gonna be a steal for what he'll be worth when the contract ends.

It's July and that means while free agents are out there agreeing in principle to contracts, rookies are actually signing their new contracts. That's exactly what the No. 1 overall pick Ben Simmons did on Sunday so that he can actually play with the Philadelphia 76ers in the Summer League.

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According to NOLA.com's John Reid, Simmons is expected to make approximately $4.9 million as a rookie under the NBA's rookie wage scale.

He's also going to make his pro debut against No. 3 Jaylen Brown and the Boston Celtics in the Utah Summer League on Monday night. The 19-year old is likely to make that contract look very good in its waning years when he becomes a star in the league and the 76ers will have some decisions to make on whether they can afford to keep him or not.