After three seasons with the Miami Heat, free agent wing Caleb Martin signed a four-year, $32 million deal with the Philadelphia 76ers on Saturday, eating up most of Philadelphia’s remaining cap space this offseason.
The free agent market didn’t move as quickly for Martin–or Haywood Highsmith, who remains a free agent at the time of this publishing–though he was able to find a new home nearly six days after hitting unrestricted free agency.
Though the most damning part about Martin’s new deal was not about what he did do–signing with an Eastern Conference rival after three memorable seasons with Miami–but what he didn’t.
According to Heat insider Anthony Chiang of the Miami Herald, Martin’s camp turned down a four-year, $58 million extension with the Miami Heat that would’ve netted him nearly $65 million over the next five seasons. Heat insider Ethan Skolnick of the Five Reasons Sports Network was first to report this week about his representation turning down the extension because they believed he had a bigger market.
According to NBA sources, the Heat offered Martin a four-year extension worth about $58 million to stay in Miami. Including the $7.1 million player he would have needed to accept for this upcoming season to make that contract a reality, this deal would have paid Martin about $65…
— Anthony Chiang (@Anthony_Chiang) July 6, 2024
We covered what would happen in the Martin situation in Thursday’s podhttps://t.co/G1LCqST6Rc
— Five Reasons Sports 🏀🏈⚾️🏒⚽️ (@5ReasonsSports) July 6, 2024
Greg Sylvander of 5RSN first reported Philadelphia’s interest in Caleb Martin on Friday.
Good luck Caleb. #OffTheFloor had this yesterday.
Join us! $2.99/mo. ($3.99 on 🍎)
Link: https://t.co/MWC0aZvNnu pic.twitter.com/MFUNZduilN
— Greg Sylvander (@GregSylvander) July 6, 2024
Martin is the second Heat forward over the last three offseasons (P.J. Tucker: Three years, $36 million) to flock up north to Philadelphia. Though Martin will now make less guaranteed money than his former teammate.
Previous reports suggested that Martin’s next contract would be around the full mid-level exception, worth about $12.8 million, so it’s reasonable to understand why. However, hindsight is 20-20, and Martin’s representation screwed up; a gruesome market misrepresentation.
Perhaps the old CBA would’ve granted him extra money, but some teams are more precautious now than they were then. The rules have changed. Adapt or get left behind.
Who knows whether or not Highsmith and Miami will agree to a deal in the coming days? As of right now, the Heat is $6 million above the $178.132 million first apron and $4.7 million away from the $188.931 million second apron–including Orlando Robinson’s $2.1 million non-guaranteed deal and Tyler Herro’s $2.5 million in unlikely bonuses.
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IQ and Money.
Saying from sagees with one of the highest known IQs in history.
Epicurus: “if you wish to make Pythocles wealthy, don’t give him more money; rather, reduce his desires.”
Aristloe: “The life of money-making is one undertaken compulsion, and wealth is evidently not the good we are seeking; for it is merely useful and for the sake of something else.”
Walden: ” To have done anything by which you earned money merely is to have been truly idle or worse.”
Aphorisms: “Wealth is like sea-water: The more we drink the thirsting we become; and the same is true of fame.”
Alien: ” What is money worth, when it can not buy you permanent happiness “😊 🙂 ☺️ lol!
Martin may be the smarter for it, if Sixers for less pay will give him more happiness than more money with the Heat….just saying.
It had everything to do with money not idealism. Martin gambled he could turn down Miami’s $65M /$13M per year offer and get $15-20M per year elsewhere. Instead, he found out other NBA teams had a lower value of him than he or Miami did. As a result, he was forced to accept a much, much lower offer ($8M per year) from a team in a state that has a personal income tax. Again, Caleb’ wound up in his current situation because of misplaced greed and low IQ…not idealism.
By no means do I mean to challenge your reasoning but you make no sense with apologies from me.
” Instead, he found out other NBA teams had a lower value of him than he or Miami did. ….blah, blah, blah, blah.As a result, he was forced…to accept much…………..again blah, blah, blah…..because of misplaced greed and low IQ..not idealism.
How was he forced to chose the Sixers with lesser pay? Miami had not withdrawn their offer to him. The higher offer from Miami was still on the table for him to pick up. If Miami had withdrawn her offer and the Sixers offer was the only offer on the table, then you can say he was forced to pick that only lower offer on the table but that was not the case. He still had Miami’s higher offer to pick from.The fact that he chose not to, meant he wanted out of Miami for reasons best known to him. Please do not rewrite events here to sound so intellectual.
Talking of idealism….when you have never chosen happiness over money, it is idealism.
When you have actually chosen happiness with less money over more money, it is real.
Those of us, the writer included who have been put in that position and experienced know that it is real and not a figment of imagination of a perfect world.
It is real, the sages of old are right 100%!. There is a reason why they are acknowledged by history to be the great philosophers.
All phily needs is depth players.He def helps phily.Not sure why the heat are so salary strapped and teams like boston ny phily are paying 100s of millions in contracts w/o blinking an eye.Pat prob paid the wrong players or mickey doesnt want to pay over this apron crape although hes one of the richest men in the world.Jimmy bam terry will get you in playoffs.Jaime needs to give us at least 15-17pts.Where are the other pts coming from.Sure ty can score but he will give up as many as he scores.Need more decent players Pat at least 2 more.Kuzma collins one of those.We have no back up pg maybe pat bev.
I remember the bad years with the Panthers and the Marlins when it seemed like they were sifting thru the good teams garbage bins. Those days are thankfully over for the Cats who are now a destination.
These are tough times on Biscayne Boulevard, but let’s hope they cobble something together. Even a couple of reclamation projects like the guys you mention would give us a little hope.
But, the same problems remain…for well documented reasons there ain’t much money to dole out, and no one wants our tradeable assets. BTW, leave Mickey out of the equation as he is a great and generous owner and any shortcomings to this team are the fault solely of the GM who has full support and absolute free rein.
And now, despite our continued pride in Heat Culture, there seems to be a perception that this organization’s is out of touch with the zeitgeist of the current NBA and players don’t want to play for the guy referred to on X as Pat Biden.
Me thinks change could be in the offing.
Martin likely will be a starter in Phily and championship contender if Phily stay healthy. I know that some players prefer being a starter to money. They also prefer a possible contender to a probable contender on paper. Best wishes Martin.
Hmmm…I take that “Heat offer” with a grain of salt. Might be true or you know… anyways godspeed Caleb, hope for the best for you thanks for all your contributions. Just dnt play well vs Heat lol
came here to say the same thing. double rec
https://www.youtube.com/watch?v=tldGgGFe194
I wonder who his agents are.
I wonder if there is more then about the money. 64 for 5 years contract was a great offer, (overpay in my opinion) definitely better then 32 for 4 years, which is also a fair offer for player of his qualities IMO.
Good luck, Caleb.
It’s kinda bittersweet to me, It’s bitter because he’s going to the sixers to make them better, but it’s sweet because Riley was about to overpay again smh, so definitely dodged a bullet. Riley need to try to sign locksmith, he’s our 2nd or 3rd best perimeter defender, and our defense will take a big hit without him. If we can’t get demar or at the least get back locksmith, then it’s fail from Mr. Riley, so far. Also sixers waived reed, so maybe take a flier on him possibly?On a positive note, first game of summer league starts today.
I posted in the other thread but will say it again, Locksmith will be a better bang for buck with unrealized potential on offense still left in his career arc. He’s now a must sign if they want to give appearances of trying.
Riley has no excuse to try hard now, after offering caleb an almost strus sized contract. What you think of Reed though from the sixers, would you give him a shot or nah? Or devontae Graham, who got dropped by the spurs?
double rec for Locksmith
Somewhat puzzling…that’s a bummer.