Longtime Miami Heat combo forward Caleb Martin, a starter during the club’s run to the 2023 NBA Finals, rejected a lucrative long-term contract extension to stay with the franchise, according to Barry Jackson and Anthony Chiang of The Miami Herald.
Per Jackson and Chiang, the 6-foot-5 Nevada product has been seeking a new contract that would have paid him “easily” more than $15 million per season. The revamped Philadelphia 76ers are said to be interested in his services, among other teams, although for now Martin is still unsigned.
Miami is reportedly hoping to make a bid for a superstar via trade, Jackson and Chiang report, which may be why the team hasn’t made any major deals as of yet that could help the club get under the NBA’s $178.1 million first luxury tax apron.
The team has talked with unrestricted Chicago Bulls free agent small forward DeMar DeRozan, but the 6-foot-6 USC product is apparently not interested in either the taxpayer mid-level exception (currently what the Heat could offer, worth $5.2 million) or even the non-taxpayer mid-level exception ($12.8 million), which would require Miami making some deals to duck under the tax.
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The Sacramento Kings and San Antonio Spurs have also chatted with Chicago about working out a possible sign-and-trade for DeRozan, a source tells Jackson and Chiang.
So far this offseason, the Heat have re-signed stretch five backup Kevin Love and deep-bench center Thomas Bryant. Miami has also added longtime wing Alec Burks to a one-year, veteran’s minimum contract, per a team press release.
Martin is seeking a richer deal, and like DeRozan he would now need the Heat to get off other contracts in order to sign him to the kind of money he seeks. In 2023-24 for the 46-36 Heat, the 28-year-old Martin averaged 10 points on a .431/.349/.778 slash line, 4.4 rebounds, 2.2 assists, 0.7 steals, and 0.5 blocks a night. He started just 23 of those 64 games.
As a switchy, 3-and-D wing, Martin certainly should have value to any enterprising playoff contender. He doesn’t have much of a handle, and is a bit small for his position, which makes him a somewhat limited offensive contributor. There just may not be much interest in paying him the kind of money he wants to earn. Martin could be a fascinating fit for a team on a non-taxpayer mid-level exception, but a lot of playoff clubs are already looking fairly settled, or are waiting for trades that may take weeks or even months to materialize.
Uncommon Knowledge
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.