Free agent forward Caleb Martin's bid to capitalize on free agency may backfire against him.
The 28-year-old had previously declined his 2024-25 player option worth $7.1 million with the Miami Heat to explore unrestricted free agency.
Martin has reportedly been seeking around $15 million per year in the open market, but he has not yet reached an agreement with any team, according to team insiders Barry Jackson and Anthony Chiang of The Miami Herald.
Due to their limited financial flexibility, the Heat are no longer able to offer Martin a contract that pays him the same amount as his declined 2024-25 player option.
If the Heat decides to allocate its remaining $7 million under the second apron to Martin, any multiyear deal will not reach his desired $15 million at any point due to NBA rules that restrict annual salary increases.
Caleb Martin nearly won major award in 2022-23
Martin has been a vital rotation player for the Heat for the past two seasons, including their memorable run to the 2023 NBA Finals.
The 6-foot-5 stood out in last year's postseason, nearly winning a major award when the Heat defeated the Boston Celtics in the Eastern Conference Finals.
The undrafted player was one vote away from being named the Eastern Conference Finals MVP, narrowly losing out to teammate Jimmy Butler 5-4 in the media vote.
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