This appears to be a good deal for both sides.
Josh Richardson and the Miami Heat have agreed to a four-year, $42 million contract extension, according to ESPN’s Adrian Wojnarowski. Richardson was a second-round draft pick in 2015, but he’ll become the first member of that draft class to be significantly paid.
Richardson burst out as a rookie in a limited role, shooting 46.1 percent on three-pointers in 21 minutes per game. This past season, Richardson saw his minutes (30.5), points (10.2), and assists (2.6) increase — although it did come with a loss of efficiency, as Richardson recorded just a 49.3 percent true shooting percentage last year.
Still, Richardson — the 40th pick a couple years ago — is a steal for the Miami Heat, and his $42 million deal seems reasonable for both sides. Richardson will play for $1.4 million next season before his extension kicks in during the 2018-19 season, and the four-year deal will end with a player option, according to Basketball Insiders’ Michael Scotto.
Why did each side sign now instead of waiting?
Extensions are much more viable in the NBA’s new CBA. Richardson hasn’t even made $1.5 million in his career yet, so locking up that guaranteed money going forward with an organization that is well regarded makes sense for him.
Richardson might not be worth $11 million annually at this moment, but the Heat are betting that Richardson — who turns 24 on Friday — will keep getting better. There’s no reason to think he can’t, and if Richardson can develop a two-way game that makes him a quality starter, that’s even better.