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Aldridge: Sheed To Retire

This just in from David Aldridge at NBA.com:

The Boston Celtics’ expected rebuilding began Thursday when veteran forward Rasheed Wallace officially decided to retire after 15 NBA seasons, a league source said.

He adds this:

He left more than $12 million on the table by opting to retire.

I’ve been batting around emails with Larry Coon, the salary cap expert who created the online Bible of salary cap information, to try and figure out the exact salary cap implications of Sheed’s retirement. It’s not a simple thing, and we don’t have a complete answer yet. The team may still have to negotiate a buyout of Wallace’s contract, in which case whatever they pay Sheed would be included in this year’s salary cap.

Coon’s entry on retired players includes this line:

Any money paid to a player is included in team salary, even if the player is no longer playing or has retired.

There appears to be some precedent for a player’s contract staying on a team’s books if he retires in the middle of the contract but does not file official retirement papers with the league. If Sheed does file papers, it would appear from my reading of the cap rules and past league precedent that his contract—minus a buyout figure, if there is one—would be wiped off the C’s books completely.

If anyone has any further insight, by all means let me know. I hope to have a more formal answer soon.

In any case, good-bye, Sheed. It was as crazy a year as we all expected.

  • I love Green

    I’ll just remember his “leave it all out on the court” game 7 performance.

  • Steve B

    I’ve seen worse free agent signings. Sheed definitely filled some holes the Celtics had and it seemed the guys loved playing with him. Now to teach Perk some of those low post moves and little bank shot.

  • I love Green

    He was bad during the regular season, but stepped up big time in the playoffs as promised.

  • Shooter

    I was attacking Sheed throughout the reg season…..i mean who wasn’t.BUT he stepped up when we needed him most,he’s a true players player in my mind, a unique talent, a great teamate.I’ll miss him, too bad we couldn’t get No 18 before his retirement.
    If only he could have played the way he did in game 7 all season.

  • dont_drink_the_koolaid

    thanks for game 7 sheed. respect.

  • Allen

    Sheed was frustrating the regular season, but I believe we were over reacting. I mean, come playoff time that doesn’t matter. He stepped up Game 7. I mean, he’s old. He’s 35. Shooting 3’s is much easier than playing post. Plus, he would only have to run half the distance. A few years ago, he was a beast.

  • MP

    It felt like everytime the Celts had a big playoff win Sheed hit a clutch three at one point in the second half. He really stepped his game up for the playoffs. Respect, Sheed.

  • Ray

    Celtics need to convince him to not file paperwork until they can trade him. Essentially gives them two MLEs this offseason.

  • dslack

    @Ray: Totally agree.

  • Zack

    Could we buy Sheed out for whatever before July 1 and have it count against this years cap instead of next years cap?

  • ed judson

    Moving forward now as we must do and do quickly. If ‘Sheed retires there’s no cash paid out, so as I read the FAQ response, there’s nothing to count against the cap. Therefore the C’s must push Wallace to make a decision NOW. If the decision is to retire then Wallace must be traded NOW to a team looking for cap space for this summer. It doesn’t even matter if we receive a dog player in return, we must get something, even if it’s just to facilitate a later deal (remember Ratliff and Szczerbiak). If ‘Sheed retires as a Celtic, we got nothin’ for our 2009 midlevel. That’s worse than the Marquis situation. Here’s some viable win/win deals; to OKC for Nick Collison; IND for Foster (if his back is ok); CHA for Mohammed; DET for Maxiell; GS for Turiaf; MEM for Thabeet (gulp); Mil for Gadzuric; TOR for R. Evans; MIN for Gomes; NO for Peterson; PHI for Kapono. (The last 2 guys are too small). The key is we at least need to get an expiring contract to deal later. The other team gets a contract to take off the books now.

    Dealing ‘Sheed’s contract for a servicable big also frees up using the C’s 2010 midlevel for the teams most critical need; a starting center until Perk is healthy. That would allow the C’s to split this year’s midlevel on a point guard and a wing to solidify the bench. PG candidates are watson, Blake and Ridnour. Wings include Mike Miller, Barnes, Roger Mason, Korver, Rasual Butler. We really need a wing that will stick the J when Ray is resting.

    I must also include that we should consider TMac for the veteran’s minimum. Low risk, High return. Vintage Auerbach.

    Ray will re-up. Re-sign TA for $3 million.

    Trade the draft. If we’re all in for #18 in 2011, we don’t need a project.

  • LStrike

    Goodbye, Sheed.

    It certainly was a wacky ride.

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