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Caleb Martin Contract & Salary Breakdown

Last Updated: July 1, 2023
From undrafted to Game 7 hero, Boardroom breaks down Miami Heat forward Caleb Martin’s current contract and career earnings.

Caleb Martin’s NBA career may not have had the most glamorous beginning, but he has been able to check off a few unique boxes in his short time in the Association.

Following a college career that saw him earn Mountain West Player of the Year honors at the University of Nevada, Martin went undrafted in 2019. He proceeded to sign with the Charlotte Hornets, where he played with his brother Cody for two seasons. He was later released from the Hornets in 2021, leaving Martin looking for another team to sign with. Charlotte rapper J. Cole used his relationship with Miami Heat assistant Caron Butler and pushed for the team to bring Martin in for a real workout. The rest was history, with Martin completing the assist from Cole to make the roster as a two-way player.

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But Martin’s work didn’t stop there. He played his way into the rotation and has cultivated that work into being a key contributor for the Heat as they mounted a surprise playoff run that culminated in a return to the NBA Finals, including a stellar shooting night in Game 7 of the Eastern Conference Finals to put the Boston Celtics away. That level of play is why the Heat signed him last offseason to a three-year, $20 million deal that’ll keep him in Miami until at least the summer of 2025.

While his playoff play may lead to a bigger payday down the line, Boardroom breaks down Miami’s current Caleb Martin contract and the player’s career earnings to date.

Caleb Martin Contract Details and Salary

All figures via Spotrac.

Years: 3 (third year is player option)
Total value: $20,408,850
Average annual value: $6,802,950
Free agency: 2024 or 2025

2022-23 salary: $6,479,000

Upcoming annual salary earnings:

2023-24: $6,802,950
2024-25 player option: $7,126,900

Not only does Martin have a $7 million player option that he can exercise, but his current deal also has the max 15% trade kicker bonus should the Heat decide to send him to another team. Should he continue this level of play and with the NBA’s new CBA kicking in next season, it wouldn’t be shocking to see Caleb want to decline said option and see how much he can get in free agency ahead of the 2024-25 campaign.

Caleb Martin’s Career Earnings

Salary data via Spotrac.


ESTIMATED EARNINGS THROUGH 2024-25 (including player option): $23,296,612

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