In a surprising turn of events, Miami Heat‘s versatile forward Caleb Martin has declined a substantial long-term contract extension from the franchise. The rejection was reported by Barry Jackson and Anthony Chiang of The Miami Herald, who indicate that Martin, a pivotal player in the Heat’s 2023 NBA Finals run, is seeking a deal worth “easily” more than $15 million annually.
The 6-foot-5 Nevada product, known for his tenacity and defensive prowess, remains unsigned, sparking interest from several teams, including the retooled Philadelphia 76ers. Miami, meanwhile, appears to be positioning itself for a potential blockbuster trade, which could explain their cautious approach in the free agency market so far. This strategic patience aims to keep the team’s payroll under the NBA’s $178.1 million luxury tax apron.
In their pursuit of a superstar, the Heat have engaged in talks with unrestricted free agent DeMar DeRozan from the Chicago Bulls. However, DeRozan has reportedly shown little interest in Miami’s current financial offerings, which include the taxpayer mid-level exception worth $5.2 million and the non-taxpayer mid-level exception at $12.8 million. The latter would necessitate the Heat shedding other contracts to avoid the luxury tax.
The Sacramento Kings and San Antonio Spurs have also entered discussions with Chicago about a potential sign-and-trade for DeRozan, according to sources cited by Jackson and Chiang.
So far this offseason, Miami has re-signed veteran stretch-five Kevin Love and center Thomas Bryant, and added experienced wing Alec Burks on a one-year, veteran’s minimum deal. Despite these moves, Martin’s quest for a richer contract remains a priority that requires the Heat to free up significant cap space.
During the 2023-24 season, Martin posted solid numbers for the 46-36 Heat, averaging 10 points on a .431/.349/.778 shooting split, alongside 4.4 rebounds, 2.2 assists, 0.7 steals, and 0.5 blocks per game. Although he started just 23 out of 64 games, his value as a switchable, 3-and-D wing is evident.
However, Martin’s limitations as an offensive player—stemming from his lack of ball-handling skills and slightly undersized stature for his position—could deter teams from offering the substantial contract he desires. Nonetheless, he remains an attractive asset for playoff contenders, particularly those seeking to bolster their roster with a non-taxpayer mid-level exception deal.
As the offseason progresses and teams finalize their rosters, Martin’s future in the NBA remains an intriguing storyline, one that could see him landing with a team willing to meet his financial expectations and benefit from his defensive acumen and versatility.
