Sheed "Waived" Goodbye
by Tom Bellinger on Aug 10, 2010 7:57 PM EDT
in Boston Celtics Articles
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Per Sekou Smith (reliable source, longtime Hawks beat writer)
The Celtics won’t be trading or bringing back Rasheed Wallace this season. Instead, the veteran forward was waived Tuesday after spending one year in Boston, league sources told NBA.com.
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.
H/T to Chris Forsberg's twitter account.
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."
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Ah crap...
Guess that’s it, this is the team for the season 2010/11. God help you, Quis, or you’re going to New Jersey this winter.
Irresponsible I stand...
I'm disappointed if this is true.
He was our last best hope to get somebody better than the vet min could get us. I think we should have kept him until the trade deadline to see what would shake loose. If nothing, then buy him out then. But it’s not my money.
doubleplusungoodthinker
also hoping for more
but the market spoke and there’s not much else Danny can do, no more speculation on our (the fans) part with this contract, any decent SF’s left for the vet min?
It probably means the C's are done for now
As far as off-season trades go. Vet-min if anything for an off the bench shooter. It’s a short, short list for that however. Not much talent left at all.
maybe Sheed said he will play only in the playoffs
so we waived him so that we can get him back in Feb.
I actually like the waive manuver
Means we can bring him back if we have the need
by Warrior Spirit on Aug 11, 2010 12:38 AM EDT via mobile up reply actions
Some people are going to be upset...
Lets count how many times we hear “Rudy” and “Long Athletic SF”
They most likely bought out the remainer of his contract?!?!?!
So this guy made $20 million for a year of jogging up to the 3-point line and avoiding the post?
If you want to get sick, think of it this way: He made roughly $62,000 for every rebound he grabbed as a Celtic.
Ugh.
Good news...Bad news
Good News : Sheed is gone for good
Bad News : We couldn`t use his contract in a trade
No
They did not pay him the amount of his contract. We do not know if they paid him anything. If they paid him anything, it was likely a small fraction of his contract.
Sheed wanted to retire. He wasn’t forced out the door.
by guava_wrench on Aug 10, 2010 10:06 PM EDT up reply actions
Now, now...
Wallace only got what the market was willing to pay for his services. And we all would’ve liked to have received the same.
Nobody forced anyone to sign Wallace to anything. And if Perkins hadn’t got hurt, then Wallace probably would’ve been fondly recalled as a fat out of shape guy who helped win a title by giving the Celtics some needed minutes off the bench.
DeShawn Sims has signed with some team in Greece...
So it looks like the last spot might go to Tony Gaffney. And I’m fine with that.
Hughes is too much of a knucklehead to take a chance on. Let Harangody, Bradley, and Gaffney soak up what little minutes are left after Daniels and Wafer.
or we could have the yearly wait until midseason for buyouts.......ugh
so disappointed that we didnt get something for him.
"Hello. My name is Inigo Montoya. You killed my father. Prepare to die."
im gonna be all up on you like a spider monkey!
i can just see delonte west winning a game of poker against lebron, throwing down the cards he yells, "who's your daddy!"...."oh, sorry man"
by remembering9ergods on Aug 10, 2010 10:28 PM EDT up reply actions
I'll miss Sheed
Can he still be part of this team? That locker room will entertaining as is, but with Sheed it’ll go another level.
some free agent SFs still available for (maybe) vet min
jonathan bender, devean george, stephen graham, jarvis hayes, bobby simmons, stackhouse, tim thomas (might resign with Dallas)
i will miss Sheed
i like the way he blocked the shots of Pau Gasoft in the finals.
i know his stats are not good.
i just liked the way he blocks gasoft. he is the only one who can do that aside from kg.
+1
Sheeds low post defense will sorely be missed.
The defense he played in the playoffs against Jermaine – Shaq – Howard – Bynum and Gasol was just fabulous.
Any big man trying to learn low post defense should review the tape of Rasheeds defensive performance in the past playoffs as it was pure textbook low post defense at its best !
One roster spot left and Ainge wants a "perimeter" player
Best case: Rudy
Medium case: Delonte
Worst case: Hughes
"We few, we happy few, we band of brothers" Henry V
Right on the spot!
If we can’t get Rudy, atleast get Delonte for the vet. min.
by Prester John II on Aug 10, 2010 9:42 PM EDT up reply actions
It's probably too much to hope that Ainge can pull Fernandez out of a hat.
Hughes is bad news, and Delonte isn’t an upgrade on Wafer. Moreover, Delonte would have a real possibility of being a disruption in the locker room.
Perhaps it’s best to stand pat with Wafer, Daniels and the rookies.
Delonte is intriguing
opens up the possibility of trading AB and/or Nate or even Wafer… he’s much better bench guy than Daniels or Wafer, and probably Nate. On the other hand personal issues and SG log jam.
Rudy Rudy Rudy
Or Delonte works great for me too
by Warrior Spirit on Aug 11, 2010 12:34 AM EDT via mobile up reply actions
I am confused.
Sheed retires and we have to buy him out? Does that make any sense? Please someone explain this to me.
Unless Wyc, et al want to save about 14M
… (7 mil salary + 7 mil luxury tax), this is not a good move basketball-wise, imo. Wasted asset. This just doesn’t seem like a Danny decision.
doubleplusungoodthinker
Of course they did.
14m is a lot of money. You don’t throw that away unless you are forced to.
I think people get carried away talking about the value of bad contracts to match trades. Look at Fernandez. Sheed’s contract didn’t help because it was too big.
by guava_wrench on Aug 11, 2010 12:29 AM EDT up reply actions
Well, it's not always the case, but...
The presumption would be that for a bigger contract (Sheed’s) we’d get a better player. Our trade options would be greater, not limited to vet min offers. Wasn’t limited to just bringing in Fernandez. Lost opportunity in my view. Who knows what might have shook free by the trade dealine.
doubleplusungoodthinker
He can play again year by coming to an agreement with the team to end his contract. If he just retired, he would have to get permission from the owners to return.
There is no announcement that we paid him anything, though it is possible we did. I do not know what is required based on the CBA to terminate a contract when both parties want to do so.
by guava_wrench on Aug 10, 2010 10:10 PM EDT up reply actions
Yeah - i can't find anything firm on whether it was a buyout
or an official retirement.
You are correct that it is a big distinction. In the former case, he technically could come back within the year. In the former, not without hurdles.
It was a buyout. If he was waived it wouldn’t be a retirement. That’s my understanding of it anyways. He might immediately officially retire, but as of right now he’s just waived.
Reporter: About a year ago I asked about the Celtics-Lakers thing and you said you'd really only seen it on TV. Now you've been through it, can you talk about playing the Boston Celtics for the NBA championship?
Kobe: It Sucks.
by Tom Bellinger on Aug 10, 2010 11:23 PM EDT up reply actions
could be
a Fisher buyout though, for 0 dollars.
True. One thing I don’t understand is how this will affect the cap figure for the C’s.
Reporter: About a year ago I asked about the Celtics-Lakers thing and you said you'd really only seen it on TV. Now you've been through it, can you talk about playing the Boston Celtics for the NBA championship?
Kobe: It Sucks.
by Tom Bellinger on Aug 11, 2010 12:04 AM EDT up reply actions
Still over cap
No effect on cap. We are well over.
by guava_wrench on Aug 11, 2010 12:30 AM EDT up reply actions
We need somebody else!!
Harangody can’t play sf
To sign Hughes I play Harangody sf
and Daniel is gonna get hurt in 30 games!!
Top Celticsblog myths
1. Actual NBA teams would not laugh at any trade proposal that included the names Gaffney and Lafayette.
2. Rasheed Wallace was not fat and out of shape all year and ran out of gas when we needed him most in game 7
3. We need another wing. Because obviously pierce Allen Daniels wafer and Bradley can’t cover 96 minutes of court time.
4. Rudy is still an option.
5. Having ten rotation players, including two at each position, plus Perk, plus three rookies is not enough to go into the season with.
by bewareofdware on Aug 10, 2010 9:24 PM EDT via mobile reply actions
I would disagree somewhat with that.
1. No one at Celticsblog imagines any team is lusting after Gaffney or Lafayette. However, their past contracts, meager as they are, might allow Ainge to combine them to financially help satisfy the NBA’s requirements for equity in some trade. The other team could then jettison either or both players after the deal was done.
2. Sure Wallace was never in good shape. But he only ran out of gas in the Finals to the extent that he suddenly had to carry the load Perkins would have normally shouldered.
3, 4 & 5 I don’t think these are myths held to be truths by fans of Celtisblog. Merely matters of hopes and wishes. After all, Ainge has spoiled us rotten.
For #1, add to the pot the fact that both of them have unguaranteed contracts.
For #2, his issues started before the last game. His back gave out before then.
by guava_wrench on Aug 11, 2010 12:31 AM EDT up reply actions
Sheed waived????
I am confused …did this come out of left field or was thier any rumors the C’s were thinking of this??
Does this mean we lose his mid level contract and ability to sign another player with that $$..???
Also with Sheed waived can the C’s add Sheed to the roster resign him next year if he has a change of heart and wants to return and pull a PJ Brown prior to the playoffs???
Any info would be appreciated because I am puzzled what waiving Sheed means short term and long term.
Sarcasm?
If you are being serious, the answer to the first question is that this is old news.
by guava_wrench on Aug 10, 2010 10:12 PM EDT up reply actions
No I am being serious....
Regarding my 1st question of if it was planned by the C’s to waive Sheed …you say it was old news…
I never heard anything about the C’ planning to “waive” Sheed.
All I heard was them trying to trade his contract and then have him retire.
So this waiving of Sheed is new news at least for me.
He planned to retire all along
The Celtics hoped to trade him, but it didn’t happen.
Players don’t like to file their retirement paperwork. They would rather agree to a $0 buyout. It allows them the flexibility to return without getting special approval from the owners (a la Jason Williams). Sheed is retiring, though it isn’t official with the league.
Who knows? If we have a bunch of injuries and he is still in shape, maybe he does a P.J. Brown.
by guava_wrench on Aug 11, 2010 12:34 AM EDT up reply actions
So can you confirm for me if Sheed can come back next year now that he was waived???
if he does want to pull a PJ Brown and sign prior to the playoffs.
Because if this is the case I think it would be great if the option of getting Sheed back is available…especially if injuries occur – Perk can not come back or even if the C’s just want to bolster the front court with more length and depth prior to the playoffs..
Only in the NBA can you breach your contract, get paid to do it, and then thanked
by jurrasicearl on Aug 10, 2010 9:51 PM EDT via mobile reply actions
interim CEO's of small to large companies get that deal all the time
it pays to be part of the “old boy” network
If I were a conspiracy theorist
I’d say that this was the plan all along.
Sheed signs low (MLE) and retires after one year. Sheed gets an extra 4-6 mil in the 2nd and 3rd year buyout. In other words, Sheed plays one year for 10-12mil..
Danny gets his big. It is a win-win for both sides and almost worked.
Sheed was nice and tried to wait for Danny to trade him first, but time ran out and Sheed wanted to stop the endless speculation.
I have trouble buying that logic.
When millions of dollars are involved, why should anyone care about allowing a little speculation to go on for a few months? And if there was such a deal, surely Ainge would’ve arranged for Wallace to keep quiet until he could trade his contract off.
huh?
I’ve always figured the whole point of trading Wallace was that it was no secret that he was going to retire. The other team would be taking his contract on so that they could then wipe that amount off their books when he officially retired.
The whole point in trading a player that was always openly retiring
is that Sheed will be 36 years old during this next contract year. The team receiving his “contract” or rather, his “talents”, gets cap relief because the buyout salary gets back-charged to the season just completed and the Celtics would have included the buyout money to boot. At least that’s my understanding of the rule.
It’s the old Over-36 Rule Shuffle.
Since there was no trading partner, the Celtic owners get to keep the salary cap relief. The Celtics do not, however, get to add a player to their roster that costs more than the vet minimum. That could be catigorized as a lost opportunity, IMO.
by GetYourSoxOn on Aug 10, 2010 10:55 PM EDT up reply actions
I havent seen
buyout figures yet… I’d guess they are substantially lower… I would be surprised if there was some agreement though – too risky. If that’s the case just write the buyout into the contract and make year two partially guaranteed.
DA might have said “worse case scenario you don’t want to play after year one and we’ll try and trade you with enough cash for a buyout, or work one out – we always try and accommodate players when we can in that type of situation.” Too many people know what goes on and might get disgruntled to pull a McHale.
Disagree
Without Rasheed and his great play in the playoffs the C’s would of never made it to game 7 of the finals and only minutes away from banner 18.
Play one more time and be a champ before retiring Sheed.
I know he can help the C’s get their 18th banner. I hope he would play one more season for the C’s, they have a really good chance this year and to think he’s quite young to retire, he have all the time for that when the right time comes. Why not play another season and retired as champ. That would be a "graceful exit" Sheed.
What's up with the Rudy Fernandez search?
This whole thing concerning Sheed’s contract makes sense…if they had found anything worthwhile for it, they would’ve traded it already.
There aren’t really any quality 3’s left on the market that the C’s can target (at least above the vet min quality level). However there’s Rudy Fernandez. It’s easy to forget that it was never necessary or even possible to trade Sheed’s contract to Portland for Rudy…except without acquiring Pryzbilla as well. Obviously, the C’s would not want to acquire a center that is likely out for the whole year (and possibly for good).
We know the Bulls and Knicks are out of the running. Is Portland still willing to trade Rudy? Are the Celtics still interested?
Believe me, I think the team we have on paper looks fantastic…way improved over last year. Yet I’ve had my heart set on Rudy in green. Can someone please reassure me that Sheed’s waiver does nothing to indicate that we “can’t” get Rudy? It should have nothing to do with the other, right? Is Ainge just unwilling to part with a 1st rounder, or is he sitting pat, waiting for Portland to eventually blink and trade for not two first rounders, but just one?
As for Sheed…I’ll miss him. However, does a waiver (as opposed to official retirement) mean that he could potentially pull a PJ Brown in February? That would be sweet.
Ashtray Bouquet
clueless...
since i have no knowledge of the ins and outs of the contracts, i have these clueless questions…
1) what would be the difference if the contract is “waived” by the team or if they just waited for sheed to formally retire?
2) since his contract is waived, what does that do to the salary cap? does it mean it gives space (worth sheeds’ 2yrs worth) ‘cos of the waived contract?
3) does this mean the C’s can definitely not use his contract as bait anymore and can only sign 1 last player on the roster spot for the minimum?
I beleive...
And I’m no self proclaimed expert.
1) Sheed being waived means that he can officially return within the next year. I’m not sure how much of his contract a differeent team would have to pay if they claimed him.
2) It does nothing to help the Celts Cap with regard to signing new players. They are already over the cap. They do however save the $ amount of his contract above whatever buyout, if any, they agred to plus the associated luxury tax. ie. with a $0 buyout they save $6.3 million x 2 from Wyc’s check book.
3) Can’t use his contract as trade bait anymore. Can only sign Vet minimums.
4) Sheed can return at any point up to the beginning of the playoffs at his prorated salary (and luxary tax) for the season. (PJ Brown style)
Please feel free to correct anything I’ve mistaken here. Again not claiming to be a CBA expert.
Too bad we couldn't trade Sheed's contract.
Once again, thanks for everything Sheed, it’s a shame we didn’t win it but… enjoy your time with your family!
question
why was it a three year deal to begin with? wouldn’t that have meant sheed at some point figured he was good for two years? and now the celts are happy to say bye after one, no heartbreak. i like the idea of grabbing him sometime in march or February for a playoff run. which, however, depends on sheed being in shape until then.
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