The Philadelphia 76ers have agreed to a contract with former Miami Heat forward Caleb Martin, as first reported by ESPN’s Adrian Wojnarowski.
Martin was reportedly offered a contract extension by his incumbent team, the Miami Heat, before he hit free agency. The offer then was reported to pay him $7.1 million in 2024-25. He declined the extension to test the open market but remained unsigned for some time. Ira Winderman reported that the full terms of the deal offered to him by Miami were $65 million over five years.
Martin was a playoff weapon for the Heat in 2022-23, when they won an Eastern Conference title. Against the Boston Celtics in that seven-game conference championship series, Martin averaged 19.3 points, 6.4 rebounds, and 1.7 assists per game on 60.2% shooting from the field and 48.9% from the 3-point line.
Martin is known as a sharpshooter with serviceable defensive capabilities, and should provide added perimeter offense to a reloaded Sixers squad.
To facilitate the deal and make space on the roster, the Sixers waived Paul Reed.
Earlier this offseason, the Sixers added Paul George and signed budding guard Tyrese Maxey to a maximum contract extension.
Wojnarowski’s full report of the deal indicates the Sixers signed Martin to a deal worth “more than” $32 million over four years. $32 million would put it at an average annual value of $8 million per year, $5 million less than the offer he reportedly left on the table with Miami.
Winderman reported that the deal was for $40 million over four years, still less than the Miami offer.