Report: Sixers finalizing 4-year, $62M extension for Robert Covington

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

The deal is expected to be signed at the end of the week.

Covington will be signed to a renegotiated deal that will see him earn a significant raise from his initial salary of $1.57 million to $15 million for this season. The deal will also include an additional four seasons beyond this one.

Philadelphia preserved cap room coming into the season with the specific intention of retaining Covington, who would have become an unrestricted free agent next summer.

Covington has steadily improved each season to become one of the league's top 3-and-D players. The 26-year-old forward is hitting 50 percent from deep and scoring 16.8 points per game this season while routinely defending multiple positions.

This transaction cements Covington as one of the Sixers' core players moving forward, to go along with Joel Embiid, Ben Simmons, and Markelle Fultz.