‘Sheed’ signs with Knicks

VETERAN forward Rasheed “Sheed” Wallace has officially come out of retirement and signed with the New York Knicks, the team announced Wednesday (Thursday in Manila).

Wallace first worked out for the Knicks late last month and had been contemplating a return in recent days.

A 15-year veteran, Wallace retired after the 2009-10 season, which he spent with the Boston Celtics. Wallace took a physical with the Knicks last week and has been working out at the team’s facility for most of the last two weeks.

The 38-year-old Wallace has ties to the Knicks. He played under coach Mike Woodson in Detroit. Woodson was an assistant under Larry Brown when the Pistons won the 2004 NBA title and was considered one of the main architects of Detroit’s stingy defense.

Wallace spent the bulk of his career with Portland and Detroit. He retired after a run to the 2010 NBA Finals with the Celtics, leaving nearly $12 million in guaranteed money on the table. According to reports, Wallace was out of shape early in his season with Boston, but seemed to get into form as the year continued.

In New York, Wallace likely will back up power forward Amare Stoudemire. Widely known for his penchant for technical fouls, Wallace also is a strong post defender and can knock down the perimeter shot.

The Knicks also have 39-year-old Jason Kidd, 38-year-old Marcus Camby and 39-year-old Kurt Thomas on the roster and are the oldest team in the NBA. Noli Cruz

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