Rasheed Waived

The Celtics announced Tuesday that they have waived Rasheed Wallace after agreeing to a zero buyout of his contract. This was the first step needed to remove Wallace and his salary from the Celtics cap. Wallace can now retire without having his salary number count on the books.

The team now has 14 players under contract for next season after that transaction and the signing of rookie Luke Harangody on Tuesday.

The team will only sign a player to a minimum contract, if they decide to fill the 15th roster spot. ESPN

Sheed is now officially off the team and the Celtics tried their hardest to trade his "expiring" contract but it just didn't work out. The Sheed experiment almost worked, we knew what we were getting into when we signed him and we got exactly what we expected. A guy who only tried during the playoffs. I have a sneaking suspicion this isn't the last of Mr. Wallace on the court in green. Expect him to take that vaunted "PJ Brown" signing when it comes to playoff time because there is always a need for Sheed.