Source: Sixers agree to deal with Caleb Martin, will waive Paul Reed

Caleb Martin has agreed to a multiyear free-agent contract with the 76ers, a source confirmed to The Inquirer Saturday morning. ESPN reported the deal is for four years and $32 million.

To create the necessary salary-cap space to sign Martin, the Sixers will waive reserve big man Paul Reed, whose deal was non-guaranteed for the 2024-25 season.

Adding Martin helps fill a significant roster hole for the Sixers, who lost starting forward Tobias Harris and reserve Nico Batum in free agency. Martin, 28, averaged a career-high 10 points per game and added 4.4 rebounds and 2.2 assists for the Miami Heat last season. He also was a significant contributor during the Heat’s surprise run to the 2023 NBA Finals, shooting 42.3% from three-point range over 23 games.

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Reed averaged 7.3 points and six rebounds as 2023 NBA Most Valuable Player Joel Embiid’s backup last season, and became a fan favorite during his four seasons with the Sixers because of his high-energy playing style and “out-the-mud” mentality. But his departure appeared imminent when the Sixers agreed to a contract with former Embiid backup Andre Drummond the night free agency opened, and selected UCLA defensive big man Adem Bona in the NBA draft’s second round.

The Sixers’ desire to upgrade that spot was understandable. They sank whenever Embiid was off the floor during their first-round series against the New York Knicks, and could not stay afloat during his two-month absence while recovering from knee surgery.

Reed’s contract was non-guaranteed for the upcoming season because the Sixers did not advance to the playoffs’ second round, a wrinkle from the deal Reed originally agreed to with the Utah Jazz as a restricted free agent last summer before the Sixers matched.

These moves are part of an extensive roster refresh for the Sixers, who entered the offseason with 11 free agents and more than $60 million in cap space.

They made the biggest splash in the NBA so far, agreeing to a four-year, $212 million max contract with perennial All-Star forward Paul George. They also agreed to a five-year $204 max extension with All-Star guard Tyrese Maxey, re-signed Kelly Oubre Jr. on a two-year deal, and signed veteran sharpshooter Eric Gordon to a veteran minimum contract. They began the offseason by drafting Duke sharpshooter Jared McCain at 16th overall, then Bona with the 41st pick.

In addition to Harris (Detroit Pistons) and Batum (Los Angeles Clippers), the Sixers so far have also lost multiskilled guard De’Anthony Melton and long-range shooter Buddy Hield to the Golden State Warriors, and reserve center Mo Bamba to the Clippers. The NBA moratorium lifted at noon Saturday, meaning contracts could become official.

Veteran guard Kyle Lowry, athletic wing KJ Martin, reserve guard Cameron Payne, and reserve wing Robert Covington are free agents from the 2023-24 Sixers roster who have not yet chosen their next team.

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