Sheed is a Celtic, committing to a two-year deal at the mid-level. I believe contracts can be signed on July 8.
"Once (Wallace) had a chance to reflect on everything, and realizing what his objectives are, he just decided this was the best fit for him, all the way around," said Bill Strickland, Wallace's agent.
Wallace is expected to receive a two-year deal using the mid-level exception (expected to be about $5.6 million to $5.8 million).
The Celtics All-Star trio of Kevin Garnett, Ray Allen, and Paul Pierce, owner Wyc Grousbeck, coach Doc Rivers, and president Danny Ainge met with Wallace last week. Wallace turned down overtures from Orlando and San Antonio to commit to Boston.
Good lookin' out by JohnnyRondo who spotted that Sheed's agent was on CSN tonight around 10pm. Check out the forums thread for a recap.