Caleb Martin addresses Heat departure in free agency: ‘Everything happens for a reason’

Caleb Martin is ready to move forward.

After turning down an offer from the Miami Heat that would have paid him $65 million through the next five seasons in hopes of getting a bigger contract in free agency this summer, according to league sources, Martin ended up signing a smaller four-year deal that includes $35 million guaranteed and could reach up to $40 million with bonuses to join the Philadelphia 76ers.

But Martin isn’t stewing over the money he left on table by rejecting the Heat’s offer. He’s focused on his new opportunity with the 76ers, declining to get into specifics about his decision to pass on the Heat’s $65 million offer when asked about it by Philadelphia media.

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“Just certain things didn’t work,” Martin said Tuesday. “There’s a lot of things behind the scenes that went on. But ultimately, there was a lot in making that decision and there’s a lot that contributed to how everything went, but the past is the past.

“Can’t do nothing about that and like I said, I’m looking forward to being here and being a part of Philly and trying to bring everything I can in order to try to win a championship. That’s my main focus now.”

Here’s a recap of how it went down:

The Heat made a push to retain Martin ahead of the June 30 start of free agency, hoping to convince him to opt in to the $7.1 million player option in his contract for next season. This would have allowed Miami to make a lucrative long-term commitment to Martin in the form of an extension.

According to league sources, the Heat offered Martin a four-year extension worth about $58 million to stay in Miami. Including the $7.1 million player option that he would have needed to accept for this upcoming season to make that contract a reality, this deal would have paid Martin about $65 million through the next five years.

This type of contract would have kept Martin’s cap hit for the upcoming season at a manageable $7.1 million amid the team’s salary-cap crunch and position against the second apron, while also making up on the back end of the deal for some of the money that he would have lost this summer by opting into a lower number than he was expected to get in free agency. But a five-year commitment with an average salary per season of about $13 million wasn’t enough to re-sign Martin.

Martin and his camp expected to get bigger offers in free agency, turning down the Heat’s bid to keep him and opting out of his $7.1 million player option to become an unrestricted free agent. Miami’s front office was surprised by Martin’s decision, making it clear that it wouldn’t be able to make the same type of offer once he opted out because of the team’s salary-cap situation.

Martin ended up agreeing to a deal with the 76ers for an average guaranteed salary per season of about $8.8 million — roughly $30 million less in total money than the Heat’s initial offer, albeit Miami’s offer included one additional season than the four-year contract that Martin is signing with Philadelphia.

“I mean, you’re always gonna wish you make as much money as you can, you know what I mean?” Martin said when asked by Philadelphia media whether he feels like he left money on the table. “That’s part of the game. That’s part of life, and you live and learn and you take risks. Sometimes it works, sometimes it doesn’t. But I’m a true believer in everything happens for a reason and I feel like I’m here for a reason. One of those reasons, I feel like, is a pathway to try and get to a championship.”

One thing is for sure, Martin joins one of the most talented rosters in the Eastern Conference.

Along with adding Martin in free agency this year, the 76ers also landed nine-time All-Star forward Paul George on a four-year, $212 million maximum contract this offseason. George is teaming up with All-Stars Joel Embiid and Tyrese Maxey in Philadelphia to form one of the most dynamic trios in the NBA.

“I plan on doing something special,” Martin said. “The last couple years, I’ve been a part of winning. That’s been a main factor for me.”

In Martin’s three seasons with the Heat, he played in two Eastern Conference finals and one NBA Finals. He finished just one vote from being named the 2023 East finals MVP.

“They’re putting a great team together,” Martin said of the 76ers. “They’ve got a lot of guys with a lot of talent so I think it should elevate my game in a personal way and as a team, I feel like we can do something special.”

SUMMER LEAGUE

After splitting its first two games at the California Classic, the Heat’s summer league team closes its three-game run at the California Classic on Wednesday against the Los Angeles Lakers in San Francisco (7 p.m., ESPN 2).

The Heat then moves on to play at least five games at Las Vegas Summer league, beginning Saturday against the Boston Celtics.