The Philadelphia 76ers exercised the contract option on forward Robert Covington for the 2017-18 season, the team announced Wednesday. Covington, 26, will make $1.57 million next season, according to the Philadelphia Inquirer. The Sixers had until June 24 to pick up the final year of Covington's deal before he became a restricted free agent.The 76ers could extend Covington for a projected four-year, $39-deal and also could re-negotiate his salary after Nov. 15, according to The Vertical. He will become an unrestricted free agent after the 2017-18 season if the 76ers don't extend his contract.Covington is undergoing rehab after undergoing successful surgery on April 18 to repair a meniscus tear in his right knee.In 204 games (165 starts) over three seasons with the Sixers, the 6-foot-9, 215-pound Covington holds averages of 12.7 points, 5.6 rebounds, 1.4 assists and 1.6 steals per game while shooting 35 percent from 3-point range and 81 percent from the free-throw line. His 170 made 3-pointers in 2015-16 were the fifth-most ever in a season by a 76ers player.This past season, Covington finished fourth in the NBA with an average of 1.9 steals per game, while his total of 127 swipes on the year placed him 11th in the league.Covington was originally signed by the Sixers on Nov. 15, 2014, after spending much of the 2013-14 season with the Rio Grande Valley Vipers, the Houston Rockets' D-League affiliate. He appeared in seven NBA games for Houston and was named D-League Rookie of the Year during an All-Star campaign.