AUGUST 3RD, 1:44pm: The deal is official, the team announced.
11:59pm: Richardson will make the minimum salary in at least the first two seasons of the deal, while the sides are still hammering out the terms of year three, according to Barry Jackson of the Miami Herald.
JULY 28TH, 5:34pm: The Heat and Josh Richardson have agreed to terms on a three-year $2.5MM deal, Shams Charania of RealGM reports. The deal is fully guaranteed for the first season and partially guaranteed for the second year, Charania adds.
Miami could offer Richardson a contract of three years because the team still possesses the taxpayer mid-level exception, former Nets executive Bobby Marks notes on Twitter. Had the Heat signed someone using that exception, they would only be able to offer a two-year pact.
Richardson was the 40th overall pick in the 2015 NBA Draft. The 21-year-old averaged 16 points, 4.5 rebounds and 3.6 per game last season for the University of Tennessee. The 6’6″ guard likely won’t carry a heavy burden on offense for Miami. If he sees significant minutes, it will most likely be because of his impact on the defensive end.