Report: Sixers to sign veteran wing Caleb Martin away from Heat; waive Paul Reed

The Sixers aren’t done yet.

The team will reportedly sign veteran wing Caleb Martin to a four-year, $32 million deal. To gain the necessary cap space, the Sixers will waive Paul Reed. ESPN’s Adrian Wojnarowski was the first to report the signing and Reed being waived. The final year of Martin’s deal is a player option, per Michael Scotto of HoopsHype.

In Martin, the Sixers get a battle-tested and versatile wing. He averaged a career-best 10.0 point per game last season, though the volatility with Miami’s roster likely contributed to a drop in efficiency. He shot just 43.1% from the field and 34.9% from deep, his lowest marks since 2020-21.

Though Martin has consistently raised his level of play in the postseason. His best stretch might’ve occurred during the Heat’s surprising run to the Finals in 2023. He averaged 12.7 points per game that postseason on 65.7% true shooting. He saved his best performances for the Eastern Conference Finals, where he averaged 19.3 points in seven games against the Boston Celtics. Across 28 playoff games the past two seasons, Martin has averaged 12.5 points per game on 51.8/42.6/85.0 shooting splits.

Aside from the offense, Martin is a super versatile defender. At 6-foot-5 and with a 6-foot-10 wingspan, he’s capable of guarding one through four. That could be key for the Sixers as the roster currently lacks any real players that fit the four position. Martin is plenty capable of scaling up. With Martin, Paul George and Kelly Oubre, Jr., the Sixers’ potential starting group features a switchable and talented defensive trio of wings.

As simplistic as it sounds, Martin is able to dribble, pass, shoot and defend. Oftentimes it’s felt like the Sixers had so many players who were specialists of some kind. Martin offers plenty of versatility in a sport that’s becoming increasingly positionless.

Martin, who went to NC State before transferring to Nevada, is now 28 years old. He spent his first two seasons with the Charlotte Hornets before spending the last three in Miami. His twin brother, Cody, is currently with the Hornets.

For the Sixers and Reed, it’s surely a little bittersweet. The big man from DePaul was a draft success story for the team. Reed was the third-to-last pick in the 2020 NBA Draft, signed a two-way deal with the Sixers and went on to win the G League Rookie of the Year and MVP. After a successful postseason run in 2023, Reed signed an offer sheet with the Utah Jazz that the Sixers matched. After a difficult season in 2023-24, a clause in the contract that was meant to hurt the Sixers actually helped them. With the team failing to make the second round, Reed’s $7.7 million cap hit became non-guaranteed.

All the Sixers’ reported moves, including their agreement with Paul George, can become official starting at 12:01 p.m. Saturday. With Martin, the team will have nine players either officially under contract or agreed to terms. Second-round pick Adem Bona would make 10. Expect a bunch of minimum deals to come shortly.