Celtics president of basketball operations Danny Ainge said Tuesday that the Wallace situation would be resolved before the start of training camp. Wallace had two years left on his contract, but told Boston coach Doc Rivers he was leaning towards retirement after the Game 7 loss to the Los Angeles Lakers in the NBA Finals.
Wallace’s agent confirmed the retirement to the Boston Globe on Monday. Ainge said every possible trade avenue using Wallace’s contract was explored after it became clear he wasn’t returning. Wallace was owed $13 million for the final two years of the three-year deal. The Celtics likely bought out the remainder of the contract.
Well, that was fun while it lasted. I believe Danny explored every available avenue, but with everyone and their uncle having some cap space or a trade exception or something, I guess a retiring mid-level exception contract just ain't worth what it used to be.
Sheed, I know I'm speaking for everyone when I say thanks for giving it a shot, and sorry you didn't get to leave with more hardware.
Both teams played hard, Sheed. Both teams played hard. God bless and good night.
Update: The Celtics officially announced the waiving via press release.
The Boston Celtics announced today that they have waived forward/center Rasheed Wallace after coming to a mutual agreement following which Wallace plans to retire.
"We would like to thank Rasheed for everything that he did for this team and organization last season," said Danny Ainge, Celtics President of Basketball Operations. "We would like to wish Rasheed and his family the best as they move on into the next phase of their lives. He will always be a member of the Celtics family."