Wallace, 38, played a minor role with the Knicks while battling through foot injuries. When able to play, Sheed still proved to be an effective big man coming off the bench, but he played just one game after Dec. 13 due to those injury woes.
Over 16 NBA seasons, Wallace spent time with the Washington Bullets, Portland Trail Blazers, Atlanta Hawks, Detroit Pistons, Boston Celtics and Knicks. His acquisition by Detroit during the 2003-04 season helped power the team to its NBA Finals victory over the Los Angeles Lakers that spring.
Over 1,109 games, Wallace averaged 14.4 points, 6.7 rebounds and 1.8 assists per contest. His career PER is a solid 17.0.
Update: The Knicks signed Earl Barron to fill Wallace's spot on the roster.