Heat converts Caleb Martin’s two-way deal, signs Haywood Highsmith. What it means for roster
Tuesday was a busy day for the Miami Heat’s front office.
Along with formally signing developmental forward Haywood Highsmith to a 10-day contract, the Heat also converted Caleb Martin’s two-way contract into a standard deal in order to make him eligible for the playoffs ahead of Tuesday night’s game against the Dallas Mavericks at FTX Arena.
Martin’s new contract with the Heat is for the remainder of the season and at a minimum salary, according to a league source. He’ll become a restricted free agent this upcoming offseason.
The move to convert Martin’s deal was expected before the end of the regular season, but the timing of it was the only question. The Heat chose to do it on Tuesday.
“This is just one of those things that was an inevitability,” Heat coach Erik Spoelstra said of Martin’s promotion. “He had to just get some things in order to be able to do it. But he has earned it. When he first arrived here, there were no guarantees. We were just tryijng to get to know each other and put together a role where we thought he could be helpful and he has embraced all of it, and then some. It has been a joy to watch him work and commit to the process and then produce winning basketball.”
Martin did not play Tuesday because of left Achilles soreness. It’s the third straight game he has missed with the injury.
The Heat signed Highsmith and converted Martin’s contract while remaining under the luxury tax threshold because of the salary cap flexibility it created by unloading KZ Okpala’s $1.8 million salary in a trade last week.
After being waived by the Charlotte Hornets last offseason, Martin signed a two-way contract with the Heat in September. He has since become a consistent and important part of Miami’s bench rotation as a reliable offensive option and lockdown defender, with 34 of his 44 appearances coming as a reserve.
Martin, 26, has been one of the NBA’s top two-way contract players this season behind his impressive athleticism and energy. He entered Tuesday averaging career-highs in points (9.5) and rebounds (4) while shooting a career-best 50.6 percent from the field and raising his three-point percentage from last season’s 24.8 percent to 37.9 percent in his first season with the Heat.
Martin has scored in double-figures 21 times this season. He set new career-highs in points (28), field goals made (9) and three-pointers made (6) while tying his career-high in blocks (2) in a Dec. 8 win over the Milwaukee Bucks.
With Martin’s two-way deal converted into a standard contract, the Heat now has one of its two two-way contract slots open that can be used to immediately sign a developmental player. Guard Kyle Guy is occupying Miami’s other two-way contract spot.
By converting Martin’s contract and signing Highsmith to a 10-day deal, the Heat’s roster is now at the NBA-maximum of 15 players on standard contracts.
But Highsmith’s deal is temporary, as the Heat will again have one empty spot on its 15-man roster when his 10-day deal ends next week. Miami is expected to shop the buyout market in hopes of finding a more long-term solution to fill that spot who can help in the playoffs.
Players must be waived by March 1 in order to be playoff eligible elsewhere. They can then sign with a new team up to the final day of the regular season.
The list of players who have been rumored as potential buyout candidates or have already agreed to a buyout includes Gary Harris, Goran Dragic, Dennis Schröder, Robin Lopez, Enes Freedom, Tristan Thompson, Paul Millsap and Mike Muscala.
Dragic agreed to a contract buyout with the San Antonio Spurs on Tuesday to become a free agent, according to The Athletic. A long list of teams including the Bucks, Los Angeles Lakers, Mavericks and Golden State Warriors are among the teams expected to pursue the former Heat guard.
As of Tuesday afternoon, the Heat had not yet expressed interest to Dragic’s camp in bringing him back this season, according to a league source.
With uncertainty surrounding Markieff Morris’ status for the rest of the season and Okpala moved to the Oklahoma City Thunder last week, adding depth at power forward makes sense for the Heat.
Even after Highsmith’s 10-day deal ends, the Heat can sign another player to fill the 15th spot on its roster for the remainder of the season at a minimum salary while still avoiding the luxury tax.
INJURY REPORT
The Heat ruled out Dewayne Dedmon (lower back tightness), Udonis Haslem (poked right eye), Tyler Herro (right knee contusion), Martin, Markieff Morris (return to competition reconditioning) and Victor Oladipo (right knee injury recovery) for Tuesday’s game against the Mavericks.
Dedmon was a new addition to the injury report on Tuesday, as Spoelstra said the hope is his back injury is a “short-term” issue. Haslem was also a late scratch just minutes before tip-off.
Spoelstra also noted that the Heat could keep Herro out through the All-Star break as a precaution.
Following Tuesday night’s matchup against the Mavericks, the Heat has just one game remaining prior to the All-Star break. Miami travels to take on the Hornets on Thursday and then enters the break before resuming its schedule on Feb. 25 against the New York Knicks.
Jimmy Butler (right shoulder strain) was available to play against Dallas. He was listed as questionable entering the game.
This story was originally published February 15, 2022 at 12:53 PM.
