The 15-year vet has embarked on a one-year hiatus. Wallace last played for the Boston Celtics in the 2009-10 season, when Boston lost to the Lakers in the NBA Finals. The four-time All-Star could spark interest around the league and provide some solid contributions during the playoff push.
The Lakers are on Dwight Howard's list of teams he would be willingly traded to. If L.A. pursues Howard, they could end up sending Andrew Bynum and Pau Gasol to Orlando.
It's doubtful the Lakers would make that move, but you never know. Bynum himself said that the roster could look different if the Lakers' record doesn't improve.
If both big men got swapped for Howard, Wallace would provide some size and veteran leadership as well as outside shooting.
Wallace has talked to the organization and has interest in playing in L.A. according to Marc J. Spears of Yahoo Sports.
Stephen A. Smith reported that Wallace told him he was waiting to come out of retirement until after the trade deadline, in order to sign with the Boston Celtics and avenge their finals loss to the Lakers. Whose side is Rasheed on?
Boston has been struggling this season, and it's tough to tell whether a Wallace return would benefit them. Perhaps the magical run of 2010 would be rekindled between the veterans of the team, or maybe the Celts would stay stagnant and have a mediocre season.
Rasheed knows Doc Rivers' system and wouldn't need a lot of time to learn the plays, so his addition could be timely if Boston turns it around.
The Chicago Bulls and Rasheed Wallace also share a mutual interest for one another. Nick Friedell of ESPNChicago.com reported that Wallace and Bulls head coach Tom Thibodeau like each other and Rasheed may have a future in Chicago, reuniting him with former Pistons teammate Rip Hamilton.
The Bulls are one of two dominant teams in the East, and Wallace could add depth towards the end of the regular season and into the playoffs.
Whether or not any team gambles on Rasheed will depend on how good of shape he's in. He hasn't played at a high level in nearly 18 months and he's 37 years old. Despite the long layoff and age, there isn't a better player to sign to a short-term contract late in the season other than maybe Gilbert Arenas.
Wallace has loads of experience and has won a championship. He would surely add veteran leadership to a contending team in crunch time.