Wallace was released by the 76ers on Saturday, Marc Stein of ESPN reports.

EDGE Analysis

Wallace was traded to the 76ers after briefly moving to the Warriors in the offseason, and now his short run with his newest club has come to an end as well. The veteran averaged just 1.1 points, 1.8 rebounds and 0.5 steals in nine minutes last season, but will now begin searching for work with another team.

Wallace was traded to the Warriors on Tuesday in exchange for David Lee, Marc Stein of ESPN reports. Wallace is basically viewed as a contract at this point in his career, and he'll likely be waived by the Warriors via the stretch provision, which will enable Golden State to reduce Wallace's annual cap hit. Assuming that's what happens, the veteran will look to catch on with another team in hopes of filling a reserve forward role.

Wallace ends the 2014/15 season with 32 game appearances, averaging 9 minutes, 1.1 points, 1.8 rebounds and 0.5 steals per game. Wallace continued to get paid very well for his player-coach role with the Celtics. Absorbing his large contract was one demand made by the Nets in the trade that sent Paul Pierce, Kevin Garnett and Jason Terry to Brooklyn last year. Boston received three first round picks as well as the option to swap first round picks in 2017, so that deal still looks very good for Boston, despite Wallace's contract. Wallace was seen throughout the season mentoring the younger Celtics during games. He and Coach Stevens appear to have a positive relationship. Wallace is under contract for one more season with Boston.

Wallace has seen the court in only 21 of the Celtics' 51 games before the All-Star break, having also sat out of Boston's last six games.Wallace's monster contract also means the chances are extremely slim that he gets dealt before the trade deadline. Wallace is being very professional about the situation, offering advice and encouragement to his younger teammates. He is essentially an extremely well paid assistant coach.

Wallace was not called into action against the Pacers on Friday. Even with Brandan Wright and Jeff Green out of the picture, Wallace still can't find his way onto the court. He's only played in 14 games for the Celtics this season and the organization's numerous trades over the course of this season makes it seem pretty clear that they're in a rebuilding mode. This is bad news for the 32-year-old who will likely stay on the bench moving forward while coach Brad Stevens deploys younger players who are in need of experience.

Wallace has only played in two games this season and averaged 5.5 minutes on the court during those contests. Wallace is buried on the depth chart under the younger talent of Jeff Green and Evan Turner. In light of this, the 32-year-old is not expected to have much of an impact this season in Boston.

Wallace has successfully played in two preseason games since being sidelined for multiple days with a minor knee injury. Wallace was never in any real danger of missing extended time as the Celtics played it safe with their aging veteran to keep him fresh for the start of the regular season. The Celtics face the Nets in the first game of the regular season Wednesday and Wallace will likely be in the rotation, although he'll be used in limited capacity off the bench.

Wallace (knee) is expected to be available for Sunday's game against the Nets. Wallace missed each of the previous two games with a knee injury, but is expected to return to the court Sunday. The 32-year-old isn't known for his offensive prowess, and will likely contribute more on the defensive end off the bench for the Celtics this season.

Wallace (knee) is out for two games, A. Sherrod Blakely of Comcast SportsNet reports. With two years left on his contract, Wallace continues the injury issues that come with his age and style of play. He shouldn't be expected to provide much if any real value on offense going forward, but his contract and leadership mean the Celtics could keep him around on the bench. He should return the 19th, at the Nets.

Gerald Wallace (knee) underwent successful season-ending surgery on Tuesday. We've still yet to see a report of an "unsuccessful" season-ending surgery, but it's good to hear that all went well with Crash's procedure. His minutes will most likely be gobbled up by Jerryd Bayless, Chris Johnson, and the potentially soon-to-return Avery Bradley.