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2022 Free Agents - Caleb Martin

Summary
After being waived by the Hornets in 2021, Martin had to settle for a two-way contract with the Heat. However, Martin took advantage when opportunities presented themselves due to injuries, and played well enough to earn a standard contract for the rest of the '21-'22 season.

Martin plays hard and doesn't make many mistakes. He has some of the intangibles that could allow him to be a solid rotation piece going forward, and the offensive limitations that he showed early in his career have improved in '21-'22.

After hitting under 35% from three during his first two seasons, Martin hit 42% from three on somewhat decent volume in '21-'22. I'm not sure I trust those numbers to continue, and he wasn't able to hit at that rate in the playoff, hitting only 32% from three as defenses were happy to leave hemi open. if he can hit in the mid-to-high 30's, he could be a reliable-enough threat from outside. He also finished at the rim well in '21-'22 after really struggling to do so during his first two seasons.

Defensively, Martin has enough size to guard multiple positions, and gives good effort on that end. He also has good steal and block rates for a wing. I think Martin could get somewhere in the $4 million to $8 million range, but he may take less to stay in Miami, where he has had success.
 
Cap Considerations
Martin will be a restricted free agent with a $2.1 million cap hold and Qualifying Offer, and the Heat will have his Non-Bird rights. If the Heat don't think Martin is worth retaining for $2.1 million or more, they may not even tender him the QO, which would make him an unrestricted free agent.

If the Heat re-sign Martin using the Non-Bird Exception, they could offer him a starting salary of $2.2 million, which might not be enough to retain him. Alternatively, the Heat could offer him their Mid-Level Exception if $2.2 million is not enough. If the Heat re-sign Martin on a one-year contract, they would have more spending power in 2023 to give him a bigger contract using his Early Bird rights.

Other teams will have multiple ways to Martin as even teams without cap space could use any of the Non-Taxpayer MLE, Taxpayer MLE, or possibly even the Room MLE or BAE to sign him to an offer sheet or outright as an unrestricted free agent.

Potential Teams: Heat, Nets, Bucks, Timberwolves, Jazz

Predicted Contract: 2-year, $4.6 million (2nd year player option) with the Heat

Actual Contract: 3-year, $20.4 million (3rd year player option), 15% trade bonus, with the Heat

I thought that Martin would end up getting the full Non-Bird amount and hitting free agency again in 2023, but instead the Heat gave him most of their Taxpayer MLE.

Last updated: 7/10/2022

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