Caleb Martin claims he's pleased with Philadelphia 76ers after rejecting $65 million in Miami Heat

Caleb Martin refused a lot of money in Miami. He rejected the Heat's new contract offer, leaving millions of dollars on the table. So, he agreed to a new agreement with the Philadelphia 76ers in exchange for a fresh start in chasing a championship with Joel Embiid, Tyrese Maxey, and Paul George.

Martin declined a deal that would have earned him almost $65 million over the following five seasons to stay in Miami, instead signing a four-year contract with Philadelphia 76ers worth more than $32 million guaranteed.Martin was undrafted after attending North Carolina State and Nevada. He came into the NBA with absolutely no promises. He needed to play in the G League. Charlotte let him leave after two seasons. 

Throughout five seasons, including the final three with Miami Heat, the 28-year-old Martin averaged 8.5 points. Martin had a reputation for elevating his game during the playoffs in Miami. George and the Sixers agreed on a $212 million, four-year free agency contract, while Maxey agreed in principle to a $204 million, five-year agreement with the organization.

Caleb Martin was star player in 2023 playoff

Martin then became a breakthrough star of the 2023 playoffs, leading the Heat to the NBA Finals. Martin averaged 19.3 points on 60% shooting in 2023, including a postseason career-high 26 points on Boston's home floor in Game 7 of the Eastern Conference playoffs. In the first two rounds that season, against No. 1 Milwaukee and No. 5 New York, he averaged 10.8 points on nearly 53% shooting.

He'll most likely occupy a starter role left available in Philadelphia, where the 76ers have restructured their squad following another early playoff elimination. They paid more than $400 million to sign George away from the Clippers while still keeping Maxey, their homegrown All-Star guard, for another five years.

It's one of the reasons the 76ers and Heat both wanted him on their squads, even if Martin's eventual decision to come to Philly came at a high cost and a significant discount for the Sixers.