Rasheed WallaceFollowing a loss to the Los Angeles Lakers in Game 7 of last season’s NBA Finals, the Boston Celtics have waived veteran forward Rasheed Wallace, as he plans to retire from the NBA.

The 35-year-old played 15 seasons in the NBA.

“We would like to wish Rasheed and his family the best as they move on into the next phase of their lives,” said Danny Ainge, president of Basketball Operations of Boston. “He will always be a member of the Celtics family.”

Technically, Wallace is free to sign with another team before his retirement papers are final, but his agent said its highly unlikely

The Celtics didn’t have any room for Wallace after the addition of Shaquille O’Neal and Jermaine O’Neal this off-season, so they decided to waive him after he revealed after Game 7 that he planned to retire.

Wallace averaged nine points and 4.1 rebounds in 22.5 minutes per game last season for the Celtics, who signed he signed with as a free agent in July 2009. In the 2010 NBA Finals, he averaged 6.1 points, three rebounds and shot 34.5 percent from behind the arc.

He was drafted into the NBA with the fourth overall pick in the 1995 Draft by the Washington Bullets. A year later, he signed with the Portland Trail Blazers and remained there until 2004.

Then, in 2004, the Blazers traded Wallace to the Atlanta Hawks and then to the Detroit Pistons, where he won an NBA title in his first year and stayed in Detroit until 2009.

Throughout his career, he averaged 14.6 points and 6.7 rebounds.