Did Caleb Martin pass on a massive Miami Heat extension offer to take much less from Philadelphia 76ers?

Miami Heat veteran Caleb Martin is taking his talents to rivals the Philadelphia 76ers starting next season. And it seems he is doing so for far less money than he could have gotten to stay in South Beach.

While the rest of the NBA has been busy over the last couple of weeks, things have been quiet when it comes to the Heat. After being ousted in the first round of the NBA playoffs by the champion Celtics, the biggest story for them since has been on whether Jimmy Butler will be in a Miami uniform or not next season.

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Thus far, the only moves they have made were to re-sign forward Thomas Bryant and bring in veteran swingman Alec Burks. Burks’ addition is notable since he will instantly become a replacement for bench three-point shooting ace Caleb Martin.

• Caleb Martin stats (2023-24): 27.4 MPG, 10.0 PPG, 4.4 RPG, 2.2 APG, 35% 3PT

The three-year Miami veteran came to terms on a four-year, $40 million free agent contract with Eastern Conference rivals the Philadelphia 76ers on Saturday. The move is another nice addition for Philly, who also signed future Hall-of-Famer Paul George to a max contract this week.

Yet, what makes Martin’s departure all the more interesting, is it seems he took far less money just to get out of Miami. Following the news, Miami Heat insider Ira Winderman reported that Martin actually turned down a sizable five-year, $65 million offer from the team before free agency started last week.

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There are rumblings that Martin could be a starter for the 76ers in 2024-25, which may have helped persuade him to take his talents up I-95. However, it is still very surprising that he took one fewer year and less money annually to play in Philly over staying with the Heat long-term.

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