The move allows Miami to match any offers from opposing teams up to the mid-level exception, Winderman noted.
Martin, 26, proved to be a pleasant surprise with the Heat after signing a two-way deal before the season. That contract was later converted to a standard contract.
In 60 games with the Heat, Martin averaged 9.2 points and 3.8 rebounds, offering plenty of energy in reserve.
He spent the first two years of his career with the Hornets, but was waived at the end of the 2020-21 season. The qualifying offer from the Heat will be worth his salary of the veteran’s minimum, plus an additional $200,000.
“Because the Heat only hold Martin’s Non-Bird rights, it may be a challenge for them to make him a competitive offer if he draws serious interest on the open market,” wrote Luke Adams of Hoops Rumors. “If they want to give Martin a starting salary higher than about $2.25MM, the Heat will have to dip into their mid-level exception to do so.”