The Miami Heat and Josh Richardson have agreed on a four-year contract extension, according to a report from the Miami Herald.
The contract is worth $42 million and it will begin following the 2017-18 season. The fourth year of the extension is a player option and would be worth $11.6 million. The first three guaranteed seasons are worth $9.3 million, $10.1 million and $10.8 million respectively. Richardson is set to earn $1.5 million in the upcoming campaign.
Following an exciting rookie season in 2015-16, Richardson was a key part of the roster again last season. The 23-year old was a difference maker on some nights and had numerous clutch baskets. While he came to Miami with some potential, he has arguably already exceeded some expectations.
It is possible Richardson could have made more guaranteed money as a free agent, but he thrived in Erik Spoelstra's system. The ability to remain in a environment where he already has a history of success, was likely a big factor in Richardson's decision. Without this extension, Richardson would have been able to seek deals from other teams next off-season.
Richardson may not be a starter for Miami when the season begins, but he figures to see plenty of time on the court regardless. Last season, Richardson averaged 30.5 minutes per game and reached double-digits in points more often than not. In addition to points, Richardson filled up box scores with assists, rebounds and steals as well.
Miami had a busy and exciting off-season and has brought back most of the 2016-17 roster. Last year's squad went 30-11 in the second half of the season and almost made the playoffs. The players found a rhythm with one another and should be able to carry that into the upcoming season as well. With some new additions such as Kelly Olynyk, a playoff berth is an expectation for the Heat this time around.
The Heat will begin the preseason on October 1st against the Atlanta Hawks.