Martin was playing on a non-guaranteed contract this season, so Indiana won’t be on the hook for his entire $1,701,593 cap hit. It’s a tough blow for the veteran wing, who’s currently isolating at home after contracting COVID-19, as Agness relays (Twitter link).
Martin, 26, has appeared in 27 games this season with Indiana, averaging 6.3 points and 2.0 rebounds in 16.4 minutes per contest. His shooting line of .417/.297/.692 isn’t great, but to be fair to him, it’s hard to get a rhythm playing a limited role.
After a productive four-year college career with Butler, Martin went undrafted in 2018 and spent his first season as a professional playing in Germany. He caught on with the Timberwolves for the 2019/20 season, signing a two-way deal, and then spent last season and nearly half of this season with the Pacers. Martin and the Pacers had previously agreed to push back his guarantee date a couple of times, but ultimately the team decided to open a roster spot by waiving him.
ESPN’s Bobby Marks tweets that Martin will have a $801,900 cap hit for the Pacers and the team is now $2.3MM below the luxury tax threshold.