Wallace was officially waived by the Celtics after the two sides came to a mutual agreement in which Wallace will retire. They also came to terms on how much the Celtics would pay Wallace of the two years and $13 million he left on the table.
There has been speculation in the weeks following the Celtics loss in the NBA Finals as to whether or not the 15-year veteran would return or not. Wallace’s agent confirmed over the weekend that Wallace was indeed walking away.
“We would like to thank Rasheed for everything that did for this team and organization last season,” Celtics president Danny Ainge said in a statement released by the team. “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.”