The 76ers are finalizing a four-year contract extension for Robert Covington, Adrian Wojnarowski of ESPN reports.
According to Wojnarowski, the extension will be worth a total of $62 million, including a $15 million renegotiation bump on the $1.57 million Covington is making for 2017-18.
Covington, 26, is averaging 16.8 points while shooting 50 percent from three in his fifth season in the league. For his career, he is averaging 12.9 points on 36 percent shooting from deep.
After spending four years at Tennessee State, Covington signed with the Rockets as an undrafted free agent in 2013. Covington spent a bulk of the 2013-14 season with the Rio Grande Valley Vipers and played only seven games with Houston. He was waived by the Rockets at the start of 2014-15 season, and then signed with the Sixers.
According to Wojnarowski, the deal could be signed by the end of the week.