As guard Josh Richardson prepares for his third NBA season, the Miami Heat are discussing a possible contract extension for their budding star. 

Per Barry Jackson of the Miami Herald, while the Heat have not made a formal offer to Richardson, "one is expected in the coming weeks."

According to Jackson, Thursday marked the first day the Heat could offer Richardson a contract extension worth up to $41 million over four years. 

It's unclear if Richardson would accept an extension at this point, with Jackson noting he could opt for a two-year deal with a third-year option. 

A second-round pick by the Heat in 2015, Richardson has blossomed into a solid role player for the team. He averaged 10.2 points, 3.2 rebounds and 2.6 assists in 53 games last season. 

The 23-year-old Richardson is entering the final guaranteed year of his contract and will be a restricted free agent next summer if he doesn't reach an extension with the Heat.