Richardson and the Heat agreed Wednesday on a four-year extension that could be worth $42 million, a person with knowledge of the agreement told The Associated Press. The fourth year will be at Richardson’s option, said the person who spoke on condition of anonymity because the team has not announced the signing.

The contract goes into effect in the 2018-19 season. Richardson will make about $1.5 million this coming season, and will likely be in the mix of candidates vying for the starting small forward spot with the Heat. The deal was not a surprise, given that Miami officials had indicated repeatedly that they had no plans on letting Richardson go elsewhere.

Richardson is entering his third season with the Heat. He averaged 10.2 points last season, appearing in 53 games and making 34 starts. He shot 46 percent from 3-point range as a rookie, then 33 percent from beyond the arc last season – after missing training camp with a knee injury.

The Heat begin this season’s training camp Sept. 26.

Richardson turns 24 on Friday. He was the No. 40 overall pick by Miami in the 2015 NBA draft after a four-year career at Tennessee.

ESPN first reported Richardson’s agreement with Miami.

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