Report: Rockets pick up Papanikolaou's 2015-16 option

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The Houston Rockets have picked up Kostas Papanikolaou's team option for next season, according to Yahoo Sport's Adrian Wojnarowski.

The 24-year-old small forward is due roughly $5 million in 2015-16 under a non-guaranteed deal, which can become fully guaranteed if he remains with the team past Oct. 4, reports ESPN's Kevin Pelton:

Papanikolaou was selected 48th overall in 2012 by the New York Knicks, with his rights being dealt to the Portland Trail Blazers just a few weeks later in a deal that sent guard Raymond Felton to The Big Apple.

The Rockets acquired Papanikolaou in a trade with Portland on July 10, 2013.

He averaged 4.2 points in 18 minutes last season, shooting just 35 percent from the field and 29.2 percent from 3-point range.

Papanikolaou's role in Kevin McHale's rotation was non-existent following the signing of Josh Smith and Terrence Jones' return from injury, as he suited up for just four games after the All-Star break.