(Watch the video. In case you didn’t already, it makes you really, really hate NBA refs.)

This might sound a little ambitious, and I have no idea if it would even work under the NBA rules. But, for a second, let’s say Sheed decides to retire (as it looks like he will). Could the Celtics then use his contract, before he officially retires, in a trade?

Teams everywhere are looking for cap space, and with the summer of 2010 about ten days away, Sheed’s retirement could potentially net a team $6.3 million of cap space (according to Chris Forsberg). That $6.3 million off the books means almost nothing to the Celtics (who will still be over the salary cap unless Paul Pierce somehow decides to turn down $21 million despite being a step and a half slower than he used to be), but could prove very useful to a team with free agent hopes.

Again, I don’t know if the NBA would allow a move including Sheed’s retiring contract. It sounds kind of sheisty to me. But, goddamn, it’d be a huge coup if it would work. The biggest problem with Sheed’s near-certain retirement is that the Celtics will lose his services while being unable to add another player. If the C’s could somehow flip Sheed’s contract into another mid-level type player, they could actually really benefit from his retirement.

If this whole thing works, want to hear a trade that would be perfect for both teams? Sheed to OKC for Nick Collison. The contracts work, Collison’s contract comes off the books after next season, and Collison is a tough bastard who plays the game the right way. He’d be a great off-the-bench player behind Perkins and Garnett. Why would the Thunder give Collison away for nothing? Sheed’s retiring contract would get them enough cap space to add a max player. Think they wouldn’t give up Nick Collison to pair Kevin Durant with Lebron? Those guys would be a decent tandem for the next decade or so, huh? (Another name to think about? Michael Beasley? With Big Baby in the fold, though — and Beasley saying basketball isn’t fun anymore — I’m not sure Beasley’s the right fit.)

Again, I don’t know if any of this rampant speculation would work under NBA rules. All I know is, it’d be great if it did.