Caleb Martin's 3-year, $20 million deal with Heat will please Jimmy Butler

The Miami Heat have re-signed Caleb Martin to a $20 million extension after serving as a key bench player last season.

The Miami Heat managed to retain a key role player on Wednesday, signing restricted free agent Caleb Martin to a three-year, $20 million extension.

Per Shams:

Restricted free agent Caleb Martin has agreed to a three-year, $20-plus million deal to return to the Miami Heat, sources tell @TheAthletic @Stadium.

— Shams Charania (@ShamsCharania) July 6, 2022

This is big for the Heat. Martin served as one of Jimmy Butler's primary backups in 2021-22, averaging 9.2 points and 3.8 rebounds while shooting 41% from downtown. He was also one of Miami's best three-point threats. Prior to coming down to South Beach, Martin played two seasons for the Charlotte Hornets alongside his twin brother, Cody.

Martin was initially on a two-way deal with the Heat but after impressing, it became a fully guaranteed NBA contract. The 26-year-old will now get a substantial pay raise in 2022-23. He made just $527,000 last season and now, he'll get just under $7 million per year on average.

The Heat haven't made a lot of moves quite yet in Free Agency, but they have been linked to possibly trading for Kevin Durant, who wants out of Brooklyn. The Nets will almost certainly want Bam Adebayo in a deal though, but he's off-limits because the big man is on a rookie max extension. That means Brooklyn would need to get rid of Ben Simmons first because he's on a similar deal as Bam.

The Heat also lost P.J. Tucker, who served as a key defensive piece this past season. He signed with the Philadelphia 76ers. Nevertheless, the core is still in place of Butler, Tyler Herro, Kyle Lowry, and Adebayo, among others. Bringing back Caleb Martin is just another piece of the puzzle for Miami as they look to make a run at a title in 2023.