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Barry Jackson is reporting that he turned down a five year $65 million contract from the Heat. However, I don’t think that makes sense under the CBA. I thought the most they could offer Caleb Martín without going over the second apron was $7.1 million.

Does anybody know? Maybe it was a bunch of non-guaranteed years?

New 4 year contract/extension was for the 25-26 season, and would have required Caleb to opt in to the final year of his previous contract for the 24-25 season.

If he got injured, for example, he would be taking it on faith that the Heat would offer him that extension. You cannot sign next season's extension as part of this season's negotiation. It would be non-binding. I can't blame him for grabbing the certain bag.

gom wrote:If he got injured, for example, he would be taking it on faith that the Heat would offer him that extension. You cannot sign next season's extension as part of this season's negotiation. It would be non-binding. I can't blame him for grabbing the certain bag.

It does speak volumes about what he thinks about the Heat and them keeping their word.

Flash4thewin wrote:

gom wrote:If he got injured, for example, he would be taking it on faith that the Heat would offer him that extension. You cannot sign next season's extension as part of this season's negotiation. It would be non-binding. I can't blame him for grabbing the certain bag.

It does speak volumes about what he thinks about the Heat and them keeping their word.

I didn't see many teams in line offering to give him a chance when he started out. Also, JRich looks happy to be back. I think we are alright.

Flash4thewin wrote:
It does speak volumes about what he thinks about the Heat and them keeping their word.

It was not a “opt in and *wink* we’ll take care of you next summer” situation, the deal was on the table this summer. It was made clear to his agent that version of the deal would only be feasible under the cap if he opted in. Agent believed his market was going to be more robust than what it was, when he found out that wasnt the case he tried to circle back on the deal the Heat offered.

According to a league source, the Heat offered Martin a four-year extension worth about $58 million to stay in Miami. Including the $7.1 million player he would have needed to accept for this upcoming season to make that contract a reality, this deal would have paid Martin about $65 million over the next five years.

Barry reported this in realtime

Kobewade11 wrote:

Flash4thewin wrote:
It does speak volumes about what he thinks about the Heat and them keeping their word.

It was not a “opt in and *wink* we’ll take care of you next summer” situation, the deal was on the table this summer. It was made clear to his agent that version of the deal would only be feasible under the cap if he opted in. Agent believed his market was going to be more robust than what it was, when he found out that wasnt the case he tried to circle back on the deal the Heat offered.

According to a league source, the Heat offered Martin a four-year extension worth about $58 million to stay in Miami. Including the $7.1 million player he would have needed to accept for this upcoming season to make that contract a reality, this deal would have paid Martin about $65 million over the next five years.

Right, I think they probably offered something close to this.

1. Since Miami wasn't under the tax for next season, they couldn't renegotiate the player option, he had to opt in for it to work.
2. For his first-year extension they can give him 120% of his last year's salary OR give him league average (I think they offered him expected league average), this year was 11.91, next year's would be around 13 mil.

So...
Martin had to opt into his player option of 7.1 mil this year.
Then his extension kicks in...
1 ~13 mil (based on player average salary)
2 ~14.04 (8% increase)
3 ~15.16 (8% increase)
4 ~16.38 (8% increase)

Total 5 contract - 65.68
4 year extension - 58.58

From the NBA.com CBA.

A Veteran Extension may provide for a salary in the first year of the extension of up to the greater
of: (i) 120% of the player’s salary in the last year of the original contract, or (ii) 120% of the
estimated average player salary in the year in which the extension is signed. Salary may increase
or decrease in subsequent years by up to 8% of the salary in the first year of the extended term

https://cdn.nba.com/manage/2021/03/2018-19-CBA.pdf