Rasheed Wallace has informed New York Knick officials that he will come out of retirement and will sign with the Knicks, according to a league source.
Wallace worked out with the Knicks last week as he was thinking of making a return to the NBA. The New York Post reports that Wallace will join the team on Monday.
When the Knicks do sign Wallace, he will join one of the oldest teams in basketball joining Jason Kidd, 39, Marcus Camby, 38, and Kurt Thomas, 39.
The Knicks plan on having Wallace backing up big man Amare Stoudemire as the Knicks have clearly taken a win now approach.
Wallace has not signed a deal as of yet, but, if his deal is guaranteed, the team would have room for one more free agent. The Knicks have been in contact with Josh Howard's representatives about joining the Knicks.
Wallace's deal will most likely be the league minimum at $1.7 million.