The Miami Heat and Tyler Herro agreed to a four-year, $130 million contract extension on Sunday afternoon, according to ESPN’s Adrian Wojnarowski.

The league’s reigning Sixth Man of the Year was set to enter the final year of his initial rookie contract with the Heat this fall. He will now be with the franchise through the 2026-27 season, and will earn an average salary of more than $32 million a season.

The Heat confirmed the extension, but did not disclose terms of the deal.

“Tyler is an impact multi-faceted player and we are excited to have him signed for the next five years,” Heat president Pat Riley said in a statement. “His improvement every year since we drafted him has led to this day. We believe he will continue to get better.”