ESPN's Jared Zwerling reports that the forward has already taken a physical, meaning the deal is imminent.
Source close to #Knicks: All the players expect a Rasheed Wallace signing to become official. He took his physical w/ the team yesterday.— Jared Zwerling (@JaredZwerling) September 28, 2012
UPDATE: Saturday, Sept. 29, at 7:42 p.m. by Richard Langford
If Rasheed doesn't join the Knicks, it reportedly won't be because he wants to stay retired.
ESPN shared this bit of info.
Get ready, Knicks fans, the 'Sheed era could be right around the corner.
---End of update---
UPDATE: Friday, Sept. 28, at 1:10 p.m. ET by Tim Daniels
Marc Berman of the New York Post cites a source that reports Wallace will be at Knicks training camp starting on Monday even though the power forward's agent wouldn't confirm an agreement has been reached with the team.
With the Knicks clearly in win-now mode, it's a move that would bring some much-needed depth up front. Wallace has the ability to stretch defenses because he can knock down jumpers and has always been reliable on the defensive end.
Berman states a deal could be officially announced at some point on Friday.
---End of update---
Wallace's agent also told Newsday beat writer Al Iannazzone that the Knicks would be the only possible destination for a potential return.
just spoke to Rasheed Wallace's agent, who said, "if he decides to return it will be with the Knicks' organization.'— Al Iannazzone (@Al_Iannazzone) September 28, 2012
Wallace last played for the Boston Celtics during the 2009-10 season when he averaged nine points and 4.1 rebounds per game. This was the first time in his 15-year career that he averaged less than double-digits in points per game.
Overall, the four-time All-Star has averaged 14.6 points per game over the course of his career, which has spanned more than 1,000 games.
The New York Knicks are looking to upgrade depth on a frontcourt that includes starters Amare Stoudemire, Tyson Chandler and Carmelo Anthony, but very little else.
Chandler believes that the addition will help the team. He told ESPN's Ian Begley:
I hope he stays. I don't know what the situation is but he's a great communicator on defense and we know he can knock down the open 3 and the jump shot. To have myself and Amare (Stoudemire) and to have Marcus Camby and Rasheed as backups, it's going to be nice.
Unfortunately, this creates some interesting issues for the roster. Primarily, the impending addition continues the trend of this team becoming one of the oldest in the league. Along with Jason Kidd, Marcus Camby and Kurt Thomas, Wallace would be New York's fourth player who is at least 38 years old heading into the season.
Also, coach Mike Woodson might have a difficult time keeping all of the personalities in check when things go poorly.
It would certainly be an interesting experiment as the Knicks try to win their first championship since 1973.