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Sixers Waive Gerald Wallace

Of the many phrases Bill Simmons ushered into the basketball lexicon, referring to someone as more of a contract than a player is at the forefront. Thanks to the current CBA’s curtailing of contract lengths though, comedic punchlines like “Theo Ratliff’s Expiring Contract” are now all but extinct. The cap has grown and front offices hold on to draft picks for dear life, thus giant expirings no longer hold much value.

One of the few remaining albatrosses was that of Gerald Wallace, at least until today, as ESPN’s Marc Stein says the Philadelphia 76ers have waived the veteran.

Don’t feel bad if you didn’t know Wallace was with Philadelphia, the team who’ll absorb your washed-up veterans for a price.

Acquired by the Nets in the disastrous deal that resulted in Damian Lillard landing in Portland, Wallace inked a four year, $40 million deal to stay with the franchise, later being dealt to Boston in the megadeal that sent Kevin Garnett and Paul Pierce to Brooklyn. This offseason, Golden State used Wallace’s deal to alleviate their luxury tax burden, first swapping David Lee for him, then flipping him to Philly for Jason Thompson.

This points to a sad end for the 14-year veteran who was once a legitimate starter for good teams. Still just 33, he’s set to earn a shade over $10 million this season, so it’s not all bad, but as his elite athleticism has waned, so has his ability to make a positive impact. Wallace had a solid prime, averaging at least 15 points and six rebounds in six different seasons, accentuated by a 2010 All-Star season that ended with him making First-Team All-Defense.

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