Veteran Heat Wing Rejects Lucrative Contract Extension Offer
Caleb Martin, a long-time Miami Heat combo forward and starter in the 2023 NBA Finals, has turned down a lucrative long-term contract extension with the franchise, according to Barry Jackson and Anthony Chiang of The Miami Herald.
Martin, a 6-foot-5 forward from Nevada, was reportedly seeking a new contract that would pay him over $15 million per season. Several teams, including the Philadelphia 76ers, have shown interest in him, but he remains unsigned for now.
The Miami Heat are reportedly eyeing a superstar trade, which might explain their lack of significant deals to stay under the NBA’s $178.1 million luxury tax apron. The team has discussed options with Chicago Bulls’ free agent small forward DeMar DeRozan, but he has shown no interest in the current offers available from the Heat. DeRozan’s potential fit would require Miami to offload contracts to offer a suitable deal.
The Sacramento Kings and San Antonio Spurs have also explored sign-and-trade possibilities for DeRozan, according to sources.
This offseason, the Heat have re-signed Kevin Love and Thomas Bryant and added veteran Alec Burks on a one-year minimum contract.
Martin is looking for a higher-paying deal, similar to DeRozan, and Miami would need to clear other contracts to meet his salary demands. In the 2023-24 season, Martin averaged 10 points, 4.4 rebounds, 2.2 assists, 0.7 steals, and 0.5 blocks per game for the 46-36 Heat. He started in just 23 of 64 games.
As a versatile 3-and-D wing, Martin has value for playoff contenders but has limitations due to his size and handling skills. He may be a good fit for a non-taxpayer mid-level exception, but many playoff teams are either settled or waiting for potential trades.
