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Sixers, Rob Covington agree to 4-year, $62M extension

Discussion in 'NBA Dish' started by J.R., Nov 15, 2017.

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  1. J.R.

    J.R. Member

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    76ers, Robert Covington finalizing four-year, $62 million contract extension

    Philadelphia 76ers forward Robert Covington is finalizing the framework of a four-year, $62 million contract extension, league sources told ESPN.

    Sixers general manager Bryan Colangelo and Covington's representatives with CAA Sports are expecting a signed agreement as soon as the end of this week, league sources said.

    The deal will include a $15 million renegotiation bump on Covington's $1.57 million salary this season, plus an additional four years that'll keep Covington under contract through the 2021-22 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 in the summer of 2018.

    Covington, one of the NBA's most versatile forwards, could've become an unrestricted free agent in July, but the Sixers available $15.1 million in cap space allowed Covington to execute the renegotiation on the 2017-18 salary once he reached the third anniversary date -- November 15 -- of his original four-year contract.

    An undrafted player out of Tennessee State who started with the Houston Rockets before getting released and signing into the G League, Covington has developed into one of the NBA's elite wing defenders and consistent three-point shooting threat. He has had 29 and 31 point performances against the Washington Wizards and the Los Angeles Clippers, respectively, this season, and continues to guard multiple positions and players on the floor.

    Covington is the 76ers longest tenured player. He's averaged 12.9 points and 5.6 rebounds in his four-plus seasons with Houston and Philadelphia.
    ​
     
    #1 J.R., Nov 15, 2017
    BigMaloe, Vivi and Soneca like this.
  2. OTMax

    OTMax Member

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    Dayum!!! Price seems about right.
     
    #2 OTMax, Nov 15, 2017
  3. Soneca

    Soneca Member

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    Congrats to him. Well deserved, great deal for both sides!
     
    #3 Soneca, Nov 15, 2017
    Williamson, Exiled, BigMaloe and 1 other person like this.
  4. TheRealAllpro

    TheRealAllpro Morey only fan

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    I'm so sad the Rockets didn't keep him and now can't sign him. Perfect role player. And we found him first!
     
    #4 TheRealAllpro, Nov 15, 2017
  5. ilias

    ilias Member

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    It seems that the $15m renegotiation for this year is included in the $62m, i.e. he gets an extra 15m this year and 47m over the next 4 years. Not bad for Philly.
     
    #5 ilias, Nov 15, 2017
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  6. Reeko

    Reeko Member

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    I was expecting 15 mil/yr for him...he deserves it, he’s been ballin this year and has become a very nice 3&D player
     
    #6 Reeko, Nov 15, 2017
    BigShasta likes this.
  7. RedRedemption

    RedRedemption Contributing Member

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    Imagine Ariza at the 3 and Covington at the 4.
     
    #7 RedRedemption, Nov 15, 2017
  8. dmoneybangbang

    dmoneybangbang Member

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    Another instance of Morey's eye for talent. Sucks the timing didn't work out.
     
    #8 dmoneybangbang, Nov 15, 2017
    Williamson, c1utchfan925, BigShasta and 1 other person like this.
  9. tehG l i d e

    tehG l i d e Member

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    Pretty crazy how ended up being better than Parsons
     
    #9 tehG l i d e, Nov 15, 2017
    Buck Turgidson, K-Lo_The_Future, Rox11 and 3 others like this.
  10. xiki

    xiki Contributing Member

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    Hmm, maybe working on one's craft over one's craft beer pays dividends?
     
    #10 xiki, Nov 15, 2017
    K-Lo_The_Future, Williamson, Os Trigonum and 6 others like this.
  11. pippendagimp

    pippendagimp Member

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    morey still has a robert on the roster so no big loss on our side
     
    #11 pippendagimp, Nov 15, 2017
    BigggReddd and J.R. like this.
  12. zeeshan2

    zeeshan2 Member

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    #12 zeeshan2, Nov 15, 2017
    ramotadab and Exiled like this.
  13. BackdoorHarden

    BackdoorHarden Member

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    Woot. I was right, I predicted he would get $15 million a year , $60 million total. I was off by $2 million

    Good thing his Agent isn't the same one as Noel, DMO, or Terrance Jones. $62 million will you up for life. Don't need to get greedy like DMO or Noel

    All 3 of those guys will be playing in China if they are lucky next year.

    Not sure what their agent was doing turning down money.
     
    #13 BackdoorHarden, Nov 15, 2017
    dragonwill and BigMaloe like this.
  14. A_3PO

    A_3PO Member

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    Good for him. I hope the production continues.
     
    #14 A_3PO, Nov 15, 2017
  15. SirIvyLeague

    SirIvyLeague Member

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    Hopefully he continues playing like this.

    Really would love him here. His athleticism, quick stroke, and defense would be awesome.


    Ariza and a 1st guys.

    SIL
     
    #15 SirIvyLeague, Nov 15, 2017
  16. arabrocket

    arabrocket Member

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    Am I the only one thinking this is a bargain compared to what turner, crabbe, parson , bazemore and the white short dude on the heat we were after ( Johnson)? Got?
     
    #16 arabrocket, Nov 15, 2017
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  17. BigggReddd

    BigggReddd Member

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    I was pissed when we released him and I'm pissed now.
     
    #17 BigggReddd, Nov 16, 2017
  18. c1utchfan925

    c1utchfan925 Contributing Member

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    Hindsight, I'm happy we didn't do the same for Parsons when we were about to land Bosh and able to extend him. Look at Parsons and Bosh now, not as nearly good as their contracts are/were.

    Good for Covington, well deserved! Nothing wrong with rooting for an underdog who makes it!
     
    #18 c1utchfan925, Nov 16, 2017
  19. OTMax

    OTMax Member

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    Our scouts definitely can be right sometimes: Convington, Whiteside, Parsons, AB, Landry, Beverley, Capela, D-Mo, Lamb. Definitely timing, but also development and investment from the team and even more so from the player.

    Covington developed over the years and is now a great 3pt shooter. Great role model of how can you always develop a better shot if you work at it. Same with Beverley.
     
    #19 OTMax, Nov 16, 2017
  20. Pen15clubbers

    Pen15clubbers Member

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    Solid 3 and big D guy. I approve :)
     
    #20 Pen15clubbers, Nov 16, 2017
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