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Celtics waive Wallace

08.10.10 at 8:37 pm ET

After one frustrating season the Celtics and Rasheed Wallace have agreed to part ways. The team announced Tuesday night that they waived him after coming to a mutual agreement and that Wallace will retire.

“We would like to thank Rasheed for everything that he did for this team and organization last season,” said Danny Ainge 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.”

Wallace signed a three-year deal last offseason for the full mid-level exception, but his play in the regular season was inconsistent at best. Wallace rebounded with a strong postseason but he was battling several injuries including a bad back in the finals against the Lakers.

The Celtics had tried to trade his contract this summer but couldn’t find a deal to their liking. The waiver process is a procedural formality. It’s highly unlikely anyone will put in a claim. Once he clears waivers, he will become a free agent.

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