Forward Caleb Martin has signed a four-year, $40 million contract with the Philadelphia 76ers, turning down a more lucrative offer from the Miami Heat, which averaged $13 million annually as an opt-in/extend deal, according to NBA reporter Ira Winderman of the South Florida Sun-Sentinel.
This offseason, the 76ers have bolstered their roster by adding Martin, All-Star forward Paul George, center Andre Drummond, and guard Eric Gordon as free agents. However, they have also seen forward Tobias Harris depart to the Detroit Pistons and waived big man Paul Reed to accommodate Martin.
Standing at 6-foot-5, the 28-year-old Martin played a pivotal role in the Heat’s 2023 Finals run. Over the past season, he appeared in 64 games, averaging 10.0 points, 4.4 rebounds, and 2.2 assists, with shooting splits of 43.1% from the field, 34.9% from three-point range, and 77.8% from the free-throw line.
Martin began his NBA career with the Charlotte Hornets, where he spent two years before joining the Heat for the past three seasons.
“The 76ers landed an impactful commitment in Martin, a playoff-tested power forward and versatile defender who joins Philadelphia after three seasons with the Miami Heat,” ESPN’s Adrian Wojnarowski reported. “Martin is expected to become the Sixers’ starting power forward, sliding into a frontcourt that now includes George and MVP center Joel Embiid.”
The Sixers, who were eliminated in the first round of the NBA playoffs by the New York Knicks, are looking to improve their playoff fortunes. Meanwhile, the Heat fell to the eventual-champion Boston Celtics.
As Winderman highlighted, the Heat were restricted from executing a sign-and-trade due to salary cap limitations.
“At their current payroll position, the Heat, by rule, are not allowed to bring in a player in a sign-and-trade transaction (though they can send out a player in such a move),” Winderman wrote. “So unless the Heat first offload salary to get into a far better position against the tax aprons, adding any player in a sign-and-trade is off the table, regardless of speculation. Therefore, for the Heat to engage in a sign-and-trade, a preliminary trade would be necessary.”
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