The Miami Heat are finalizing a four-year, $42 million contract extension with Josh Richardson, according to ESPN’s Adrian Wojnarowski.
Miami Heat guard Josh Richardson is finalizing a 4-year, $42M contract extension, league sources tell ESPN.
— Adrian Wojnarowski (@wojespn) September 13, 2017
Richardson appeared in 53 games with the Heat last season, averaging 10.2 points and 2.6 assists per contest. The Heat selected Richardson in the second round of the 2015 NBA Draft.
The extension holds a player option in the fourth season, according to the Barry Jackson of the Miami Herald.
Jackson broke down Richardson’s per-year salaries, as well as how the process between Richardson, his agent and Miami’s front office staff worked over the past several days.
Per source, here is Richardson contract breakdown: $9.3 million, $10.1 million, $10.8 M, $11.6 M player option. Will make $1.5 M this yr
— Barry Jackson (@flasportsbuzz) September 13, 2017
The Heat was allowed to make the four-year, $42 million offer to Richardson beginning Aug. 1 and he had until the start of the regular season to accept, according to someone directly involved.
Heat president Pat Riley met with Richardson’s agent, Erik Kabe, and Bill Duffy (who owns the agency where Kabe works) at Riley’s Malibu home last month and conveyed interest in offering the deal at the maximum money permitted.
Richardson discussed it with Kabe and his family and decided to accept in recent days, according to a source.
The Heat now have 10 guaranteed contracts for the 2018-19 season. Camp for the 2017-18 season opens in less than two weeks, with the team’s first regular-season game set to commence in roughly one month.
Richardson has shown growth since entering the league two years ago. A young three-and-D player known for providing energy off the bench, he’ll compete with Justise Winslow and Rodney McGruder for the team’s starting small forward job this season.
The extension he signed to stay with the team includes the maximum amount of money possible under the NBA’s collective bargaining agreement. Richardson will take a physical with the team in the coming days before the extension is finalized.