Heat: Caleb Martin's request backfires after no other team offers desired contract : NBA : Sports World News

BOSTON, MASSACHUSETTS – Caleb Martin (#16) of the Miami Heat dribbles against the Boston Celtics during the second quarter of Game 5 of the Eastern Conference First Round Playoffs at TD Garden on May 1, 2024 in Boston, Massachusetts. (Photo: Maddie Meyer/Getty Images)

Free agent forward Caleb Martin’s attempt to capitalize on free agency could backfire.

The 28-year-old previously declined his $7.1 million 2024-25 player option with the Miami Heat to explore unrestricted free agency.

Martin is reportedly seeking around $15 million per year on the open market, but he has yet to reach an agreement with a 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.

Learn more: DeMar DeRozan linked to two non-playoff Western Conference teams following Miami Heat’s inadequate offer

If the Heat decide to allocate the remaining $7 million of the second part to Martin, any multi-year contract will not reach his desired $15 million at any given time because of NBA rules that limit annual salary increases.

Caleb Martin almost won a major award in 2022-23

Martin has been a pivotal rotation player for the Heat over the past two seasons, including their memorable run to the 2023 NBA Finals.

The 6-foot-5 player was a standout in last year’s playoffs, nearly winning a major award when the Heat beat the Boston Celtics in the Eastern Conference Finals.

The undrafted player was one vote away from being named Eastern Conference Finals MVP, narrowly losing to teammate Jimmy Butler 5-4 in the media vote.

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