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Report: Philadelphia 76ers, Robert Covington agree to 4-year, $62 million contract extension

From NBA media reports

Nov 15, 2017 7:54 PM ET

Robert Covington will reportedly be under contract with Philadelphia for another four years.

The 'Process' is set to lock in another member for the future.

The Philadelphia 76ers and forward Robert Covington are finalizing a four-year, $62 million contract extension, according to ESPN's Adrian Wojnarowski.

The reported deal, which will keep Covington under contract through the 2021-22 season, is expected to become official this week. Here's more from ESPN:

The deal will include a $15 million renegotiation bump on Covington's $1.57 million salary this season ...

The $15 million renegotiation is the largest single-season figure negotiated since that became an available contractual avenue in the NBA.

Discussions on Covington's deal -- including the ability to formalize the renegotiation on his 2017-18 salary and the new extension -- became allowable on Wednesday under the league's collective bargaining agreement.

For the 76ers, the balloon payment on the 2017-18 season allows the team increased salary-cap space and payroll flexibility for upcoming seasons, when Philadelphia plans to be aggressive in free agency. The Sixers could have $25 million in salary-cap space this summer.

Covington, 26, is having a career season and has been vital to the Sixers' early success in 2017-18. He's averaging 16.8 points per game and is currently top five in the NBA for 3-pointers made (48) and 3-point percentage (50%). Beyond his ability to stretch the floor this season, the 6-foot-9 swingman has consistently been one of the league's better wing defenders who has routinely guarded multiple positions.

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