76ers to sign ex-Heat wing Caleb Martin in NBA free agency, waive Paul Reed, per report


The Philadelphia 76ers’ dream offseason continues: They are finalizing a deal with Caleb Martin, ESPN’s Adrian Wojnarowski reported on Saturday, less than two hours before the end of the the moratorium period. The contract will reportedly pay Martin more than $32 million over four years.

Martin, 28, is exactly the type of role player the Sixers needed to round out their roster. As things stand, he will likely start at the 4 spot. He is only 6-foot-5, but spent much of his time with the Miami Heat defending bigger players.

Last season, Martin averaged 10 points, 4.4 rebounds and 2.2 assists in 27.4 minutes for the Heat. His 3-point percentage (34.9%) was not what it was in the 2023 playoffs (42.3%), but he can still credibly be called a 3-and-D guy.

To create the cap space to sign Martin, Philadelphia will waive backup center Paul Reed’s $7.7 million non-guaranteed contract, per ESPN. The Sixers had already telegraphed that Reed would not return by adding Andre Drummond in free agency and Adem Bona in the second round of the draft.

Philadelphia profiled as a contender when healthy last season, and the team projects to be even better in 2024-25. This is primarily because of the addition of nine-time All-Star Paul George, but it’s also because Daryl Morey’s front office has found bargains on the margins. Kelly Oubre Jr. took the room exception, Eric Gordon took the minimum and it appears that the Sixers have squeezed both Drummond and Martin into their remaining cap room. As great as Joel Embiid, Tyrese Maxey and George are, no Big 3 can win big without at least decent depth.

According to Ira Winderman of the South Florida Sun Sentinel, Martin turned down an opt-in-and-extend deal with Miami ahead of free agency. The Heat reportedly offered him a contract that would have paid him $65 million over the next five seasons, including his $7.3 player option next season.

Miami signed guard Alec Burks to a minimum contract on Thursday, but Martin’s departure means it has lost some flexibility in the frontcourt. This problem will be exacerbated if free agent Haywood Highsmith does not return.

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