Caleb Martin contract details: How Heat guard went from undrafted college star to NBA playoff savior 2023

Caleb Martin

The Miami Heat have found themselves a gem in Caleb Martin, who has turned the 2023 playoffs into his coming out party.

After watching last season’s Conference Finals Game 7 against the Boston Celtics from the bench, in the space of a season, Martin has not only worked his way into the Heat’s starting lineup, he’s become an integral part of their success.

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Through six games of the 2023 Conference Finals, Martin is averaging 18.2 points and has provided some efficient scoring throughout the postseason, shooting 55.3 percent from the field and 42.2 percent from the 3-point line.

If you ask Stan Van Gundy, a considerable payday is coming Martin’s way after his playoff performances.

“He’s making a lot of money in this series,” Van Gundy said during the Game 7 broadcast, calling him the “MVP of the series” during Game 6 in Miami.

Caleb Martin contract details

Martin signed a three-year, $20.4 million deal with the Heat in 2022.

His contract includes a player option for 2024-25, giving him the option of becoming an unrestricted free agent the following season.

Season Salary
2022-23 $6,479,000
2023-24 $6,802,950
2024-25 $7,126,900 (PO)
2025-26 (UFA)

PO = Player Option

UFA = Unrestricted Free Agent

Caleb Martin draft and college stats

Martin played college basketball first at NC State between 2014-15, before transferring to Nevada in 2017-18 where he played two seasons, alongside his twin brother Cody.

The 2017-18 Mountain West Conference Player of the Year, Martin averaged 19.1 points and 5.3 rebounds per game in two seasons at Nevada.

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After entering the 2019 NBA Draft, Martin didn’t hear his name called on draft night and signed with the Charlotte Hornets as an undrafted free agent, joining his brother Cody who was selected by Charlotte with the No. 36 pick in the draft.

Caleb struggled to make an impact in Charlotte and in August 2021, he was waived by the Hornets.

How did Caleb Martin land on the Heat?

Martin found himself at a career crossroads after being cut by the Hornets, but a lifeline from the Miami Heat resurrected his career.

That lifeline came in the form of a phone call from rapper and North Carolina native J. Cole.

After being cut by the Hornets, Martin continued to work out, frequenting a gym owned by J. Cole, who put in a call to Heat assistant coach Caron Butler.

MORE: How rapper J. Cole helped Caleb Martin land deal with the Heat

“He had reached out to me and told me he had a very, very talented guy that was just wrecking shop up here in North Carolina,” Butler told The Charlotte Observer. “He [Martin] had just got released from the Hornets. Obviously, we were still trying to improve on our talent.”

From there, Butler offered Martin an invitation to practice with the Heat.

“[J. Cole] reached out to me and I just invited [Martin] to an open scrimmage in the summer, and from that point on he really earned his way on. But J. Cole having the foresight in knowing Caleb can come and help a contending team was just amazing.”

Martin signed a two-way deal with the Heat, which was converted to a standard contract after impressing the organization, before they signed him to a long-term deal.

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