Caleb Martin departs to join the 76ers following the initial Heat pursuit. What will become of Haywood Highsmith?
Moving forward Caleb Martin is moving on to play for a different Eastern Conference team.
Martin made the decision to sign with the Philadelphia 76ers after declining the $7.1 million player option in his contract with the Miami Heat to become an unrestricted free agency for the upcoming campaign, league sources revealed to the Miami Herald on Saturday.
According to reports, Martin will agree to a four-year contract worth $32 million guaranteed, with bonuses potentially raising the total to $40 million. A player option for the fourth season is included in the agreement.
Martin, a Nevada native who was not selected in the 2019 draft, played for the Heat for the previous three seasons before leaving in free agency this summer. He first signed a two-way contract with the Heat in September 2021, but he soon made a name for himself in Miami’s rotation.
In an attempt to persuade Martin to exercise the $7.1 million player option in his contract for the upcoming season, the Heat made a strong effort to keep Martin before the start of free agency. This would have given Miami the opportunity to offer Martin a hefty deal and a long-term commitment.
A league source claims that the Heat made Martin an offer to stay in Miami worth roughly $58 million for a four-year agreement. This agreement would have paid Martin approximately $65 million over the next five years, not including the $7.1 million player he would have had to take on for this upcoming season in order to make that contract a reality.
In addition to making up some of the money Martin would have lost this summer by opting into a lower number than he was expected to get in free agency, this kind of contract would have kept his cap hit for the upcoming season at a manageable $7.1 million amid the team’s current salary-cap crunch. However, re-signing Martin would not have required a five-year commitment at an average salary of almost $13 million per season.
Martin rejected the Heat’s offer to stay because he and his team anticipated receiving more offers in free agency. Martin ultimately decided to accept a contract with the 76ers, however, for an average guaranteed salary per season of about $8 million, which is about $30 million less than the Heat’s original offer, even though Miami’s offer included one more season in addition to the four-year deal Martin is signing with Philadelphia.
Martin is now a part of the successful 76ers offseason.
The 76ers signed nine-time All-Star forward Paul George to a four-year, $212 million maximum contract in free agency in addition to coming to an agreement with Martin. George is forming one of the most potent trios in the NBA in Philadelphia alongside All-Stars Joel Embiid and Tyrese Maxey.
Other 76ers free agent additions this summer include Eric Gordon and Andre Drummond, as well as the return of Kelly Oubre Jr.
In 64 games (23 starts) during the previous regular season, Martin, 28, averaged career highs in points (10 per game) and assists (2.2 per game).
Martin participated in two Eastern Conference finals and one NBA Finals during his three seasons with the Heat. He was within one vote short from winning MVP of the 2023 East Finals.
After Martin is cut, there are five players from the Heat’s roster at the end of the season who are still available as free agents: Cole Swider, Alondes Williams, Patty Mills, Haywood Highsmith, and Jamal Cain. * Haywood Highsmith is an unrestricted free agent.
In free agency, Highsmith was also connected to the 76ers; but, with Philadelphia’s acquisition of Martin, that seems to be out of the question. Highsmith is still keen to rejoin the Heat, but plans have not yet come to pass.
Centers Kevin Love and Thomas Bryant have been with the Heat since free agency opened on June 30. The Heat signed guard Alec Burks in free agency. The Heat have been constrained by its salary-cap position and opposition to the punishing second apron this offseason.
Due to this, the Heat will enter the following season with 13 players on guaranteed standard contracts, which is nearly at the maximum of 15 players on standard deals allowed by the NBA regular season.
Three two-way players for the Heat are Keshad Johnson, Zyon Pullin, and Dru Smith.
Players on two-way contracts are eligible to play for their NBA team for up to 50 games during the regular season; any additional playing time must be made up in the G League. These contracts do not count toward the salary cap, luxury tax, or apron. Up to three players from NBA teams may be on two-way contracts at any given time, and these contracts are interchangeable.
NBA teams are permitted to carry 21 players under contract during the off-season and preseason; this number does not include players that are part of the summer league. By the beginning of the regular season, rosters must be reduced to a maximum of 18 players (15 on standard contracts and 3 on two-way contracts).
The first day of free agent talks was July 30. At 12:01 p.m. on Saturday, the NBA removed its prohibition on signings, enabling the Heat to officially announce Love’s deal.
The Heat announced the signings of Bryant, Burks, Kel’el Ware, Pelle Larsson, Johnson, Smith, and Pullin earlier this week. Other deals, like as rookie contracts, minimum contracts, and two-way contracts, are eligible to be signed starting on July 1.
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