It has been an NBA offseason full of roster moves for the Philadelphia 76ers, but the additions come at a cost. Philadelphia is waiving veteran center Paul Reed, per ESPN’s Adrian Wojnarowski.
Reed previously signed a three-year, $23.5 million contract with the Sixers. The move comes after Philly agreed to terms with former Miami Heat forward Caleb Martin.
Reed had two seasons remaining on his deal, but his $7.7 million cap hit in 2024-25 was not guaranteed. Martin is expected to be the 76ers starting power forward next season, per Wojnarowski.
“Free agent forward Caleb Martin has agreed on a four-year deal guaranteed for more than $32 million with the Philadelphia 76ers, sources told ESPN on Saturday,” Wojnarowski detailed in a July 6, 2024, story titled, “Sources: Caleb Martin joining 76ers, likely slots in as starter.”
“The 76ers landed an impactful commitment in Martin, a playoff-tested power forward and versatile defender who joins Philadelphia after three seasons with the Miami Heat. Martin is expected to become the Sixers’ starting power forward, sliding into a frontcourt that now includes All-NBA forward Paul George and MVP center Joel Embiid.”
The Sixers Released Paul Reed After Adding New Projected Starter Caleb Martin
Philly loses some depth at center by releasing Reed. The Sixers clearly prioritized adding another potential starter instead of this depth behind Joel Embiid.
“While it totally makes sense, it’s sad to see Paul Reed being waived by the Sixers to create space,” The Philadelphia Inquirer’s Keith Pompey explained in a July 6, 2024, message on X. “He was a pleasure to cover the last four seasons and will be missed by the Philly media.
“But you knew this was a possibility when the Sixers were eliminated in the first round of the playoffs. That loss led to his contact being non-guaranteed for the 2024-25 and 2025-26 season. And you realized his time was up when they drafted Adem Bona in the second round and acquired Andre Drummond in free agency.”
The 76ers Have Had a Busy NBA Free Agency With Additions Including Paul George, Andre Drummond & Eric Gordon
Despite Reed becoming a cap casualty, the Sixers are widely being praised for their ability to add so much firepower while working within the NBA salary cap constraints. In addition to Martin, the 76ers landed Paul George, Eric Gordon and Andre Drummond among other vets during NBA free agency.
“When the dust settles, Philadelphia will be a good case study on maximizing cap space. By Tyrese Maxey not extending last offseason, Philadelphia was able to sign Paul George, Andre Drummond and Caleb Martin with room,” ESPN’s Bobby Marks said in a July 6 message on X. “Kelly Oubre Jr. will be signed with the room exception. Philadelphia still has a cap hold on KJ Martin and can sign the forward a $7-8M contract and use as a trade asset. The 76ers are nearing the first apron once the roster gets finalized.”
Philadelphia has their eyes on the current NBA champion Boston Celtics who remain the favorites to win the East. The trio of George, Embiid and Tyrese Maxey make the Sixers a formidable threat.
Jonathan Adams is a veteran sports contributor covering the NFL, NBA and golf for Heavy.com. His work has been prominently featured on NFL.com, Yahoo Sports, Pro Football Talk, CBS Sports, Bleacher Report and Sports Illustrated. More about Jonathan Adams
