Sheed's agent puts rumors to rest - Sheed will retire

[Chris]

Gary Washburn gets the story, to end all the speculation (and I am sure all the other Boston Sports writers hate him for killing another 5 or 6 stories they could have gotten out of this speculation over the summer).

http://www.boston.com/sports/basketball/celtics/extras/celtics_blog/2010/08/agent_sheed_is.html?camp=localsearch:on:twit:celtics

After weeks of speculation about his status for next year, Rasheed Wallace indeed plans to retire, according to his agent, Bill Strickland.

[Chris]

BTW, anyone reading the article, I would not put too much thought into the last paragraph, where Washburn seems to just try to confuse things more:

Wallace has two years and $13 million left on his contract and the Celtics could reach a settlement with the power forward or trade his contract to a club who could receive the salary cap relief after the 2012 season. Team president Danny Ainge has been trying to trade Wallace's contract this offseason but the uncertainty of the collective bargaining agreement after 2011 has clouded the impact of adding such a contract.

Before anyone reads into this too much, I would chalk it up as Washburn just not understanding the CBA.  If Sheed retires, unless there is a buyout, the entire salary comes off the books immediately from whatever team holds his rights.

[nickagneta]

Okay, as I have been saying for weeks, could all you people who keep saying that Rasheed had 13 million reasons not to retire and that you refused to believe he wouldn't take a buyout and that you refused to think he would retire please cease and desist with the personal speculation and start believing Danny, Doc, Rasheed, and his agent.

[Snakehead]

The idea of him returning was kind of intersting to think of because of the way it could allow our older bigs to sit out games or rest up more, but this was expected.  I hope they turn his contract into something.

[manl_lui]

so what now? what are we going to do with Sheed's contract, still kind of confused here

do we have 13 mil off cap space now?

[j804]

Does this mean hes walking away from the 13mil or whatever? Pretty sure it does I dont see how he could leave that on the table, hes well off im sure but [dang].

[Chris]

so what now? what are we going to do with Sheed's contract, still kind of confused here

do we have 13 mil off cap space now?

No.  We have no cap space.  All we can do is trade it.  Most likely, he will work out a buyout with the team he is traded to (probably before he is traded), and whatever the buyout is (my guess is somewhere between 1-4 million), that remains on the team that trades for him's cap, while the rest completely goes away.

So, they could trade him to a team looking to cut salary.

The problem is, at this point in the offseason, teams probably are not going to trade good players on reasonable contracts (the C's don't want bad contracts themselves) for a little savings.  That will change as the season goes on, but right now, it might be slim pickings.

But Danny could get lucky, and slide in on a bigger deal, but I think we should all plan on being patient.  Even if he is traded before the season, right now, we are heading into the period when GM's go on vacation, and everything grinds to a halt for a month or so.  So, if nothing happens in the next week or two, probably nothing will go down until camp starts at the earliest.

[Snakehead]

so what now? what are we going to do with Sheed's contract, still kind of confused here

do we have 13 mil off cap space now?

He still has not filed papers.  This only means there is no possible way Sheed comes back to play.  He has not officialy retired though, so we can trade his contract still.

Does this mean hes walking away from the 13mil or whatever? Pretty sure it does I dont see how he could leave that on the table, hes well off im sure but [dang].

It does.  The guy has made plenty of money, he has major back problems and probably with other parts of his body as well.  When you gotta hang em up, you gotta hang em up, and the buyout will still be for a few million so he will be happy with that.  I'm sure he wouldn't want to be a Eddy Curry like cancer.  

I thank him for waiting to retire and giving us a valuable trade asset.

[manl_lui]

so what now? what are we going to do with Sheed's contract, still kind of confused here

do we have 13 mil off cap space now?

He still has not filed papers.  This only means there is no possible way Sheed comes back to play.  He has not officialy retired though, so we can trade his contract still.

Does this mean hes walking away from the 13mil or whatever? Pretty sure it does I dont see how he could leave that on the table, hes well off im sure but [dang].

It does.  The guy has made plenty of money, he has major back problems and probably with other parts of his body as well.  When you gotta hang em up, you gotta hang em up, and the buyout will still be for a few million so he will be happy with that.  I'm sure he wouldn't want to be a Eddy Curry like cancer.  

I thank him for waiting to retire and giving us a valuable trade asset.

Sheed did a lot for us in the post season, but if he's really not coming back, then i hope we can get someone good out of his contract

[Chris]

Does this mean hes walking away from the 13mil or whatever? Pretty sure it does I dont see how he could leave that on the table, hes well off im sure but [dang].

Well, think of it this way.  He had the choice of playing through a lot of pain to get that $13 million, or he could probably get a couple million (or more) to sit at home and relax for the rest of his life.  Given that he probably is set for money, I think it is a very reasonable decision to choose his health and comfort over killing himself for some money he would likely never use.

[BballTim]

Does this mean hes walking away from the 13mil or whatever? Pretty sure it does I dont see how he could leave that on the table, hes well off im sure but [dang].

  Without knowing his finances, he's made $150M in his career so far. It's highly possible he doesn't really need the money.

[Sizzlack]

I think the most likely scenario is dealing his contract over to a team with cap space, to acquire the trade exception. It limits the contract that Boston can bring in later on, but provides them the ability to open a roster spot right away, and still bring in a player at the deadline if another team is looking to shed salary (HOU and Phx seem likely in that scenario, if they happen to find themselves out of serious contention and need to get out of luxury.)

NJ or SAK seem likely teams that may be willing to rent their space, both have over 13mil in cap space, and are young teams with eyes on the future. Both wouldn't mind picking up an extra draft pick next year, and if their done making moves and likely to keep their cap open for next year, as long as Boston is willing to foot the bill for Sheed's buyout, would probably be glad to absorb his contract and grab an extra pick, as the only expense to them would be the cap hit his buyout would take against this year (And if they're not planning on using all that cap room anyway, that isn't an issue.)

This gives Boston a 6.3mil exception to use to acquire a player at the deadline. The only downside would be in non-simultaneous trade deals, you lose the ability to bring in 125% of the contract, and salary must match within 100k. Meaning, if for some reason Battier happens to ever be in the conversation, his 7mil would be out of range, and require the Celtics to add a player to match the salaries. That shouldn't be a problem anyway, but it does make things more complicated.

But it opens a roster spot at the start of the year, allowing the team to sign Luke and still allow Gaffney and Oliver to fight for that 15th spot, and promote some camp competition, something Danny is big on doing if possible.

[hpantazo]

I think the most likely scenario is dealing his contract over to a team with cap space, to acquire the trade exception. It limits the contract that Boston can bring in later on, but provides them the ability to open a roster spot right away, and still bring in a player at the deadline if another team is looking to shed salary (HOU and Phx seem likely in that scenario, if they happen to find themselves out of serious contention and need to get out of luxury.)

NJ or SAK seem likely teams that may be willing to rent their space, both have over 13mil in cap space, and are young teams with eyes on the future. Both wouldn't mind picking up an extra draft pick next year, and if their done making moves and likely to keep their cap open for next year, as long as Boston is willing to foot the bill for Sheed's buyout, would probably be glad to absorb his contract and grab an extra pick, as the only expense to them would be the cap hit his buyout would take against this year (And if they're not planning on using all that cap room anyway, that isn't an issue.)

This gives Boston a 6.3mil exception to use to acquire a player at the deadline. The only downside would be in non-simultaneous trade deals, you lose the ability to bring in 125% of the contract, and salary must match within 100k. Meaning, if for some reason Battier happens to ever be in the conversation, his 7mil would be out of range, and require the Celtics to add a player to match the salaries. That shouldn't be a problem anyway, but it does make things more complicated.

But it opens a roster spot at the start of the year, allowing the team to sign Luke and still allow Gaffney and Oliver to fight for that 15th spot, and promote some camp competition, something Danny is big on doing if possible.

most importantly, it would allow us to resign Scal!

[Chris]

I think the most likely scenario is dealing his contract over to a team with cap space, to acquire the trade exception.

The only reason I do not think this is a really likely option is that there are very few teams with that kind of cap space remaining.  Given the value in a trade exception like that, and the likely-hood that it would still eat up a few million of their cap space after a buyout, the C's may have to pay a premium to get it done.  I am not sure a couple million, plus a second round pick would be enough, particularly at this point in the offseason.  Teams have often gotten first round picks out of deals like this at the trade deadline, and they may balk at doing it over the summer and not even getting that.

And, if Danny uses a first round pick just to get the trade exception, he will have very few assets to combine with that trade exception to get a quality player for it later in the season.

I hope I am wrong about this, but just don't think its that easy.

[manl_lui]

I think the most likely scenario is dealing his contract over to a team with cap space, to acquire the trade exception.

The only reason I do not think this is a really likely option is that there are very few teams with that kind of cap space remaining.  Given the value in a trade exception like that, and the likely-hood that it would still eat up a few million of their cap space after a buyout, the C's may have to pay a premium to get it done.  I am not sure a couple million, plus a second round pick would be enough, particularly at this point in the offseason.  Teams have often gotten first round picks out of deals like this at the trade deadline, and they may balk at doing it over the summer and not even getting that.

And, if Danny uses a first round pick just to get the trade exception, he will have very few assets to combine with that trade exception to get a quality player for it later in the season.

I hope I am wrong about this, but just don't think its that easy.

Cleveland should do this out of hatred for lebron 

sheed for moon and parker