What in the world is Sheed doing?

Despite reports that he might renege on his retirement talk, Rasheed Wallace is still expected to retire. Doc Rivers said the chances are ”very little or none” Sheed will play next season. (NBA Fanhouse)

Celtics coach Doc Rivers said Monday that Wallace is assisting the team by not filing retirement papers any time soon.

“He’s trying to help us out by waiting, which is good,” Rivers said of Wallace, due to make $6.32 million next season and $6.79 million in 2011-12. “He’s still our property so we can use that in a trade or something. He’s doing a great thing for us.”

While there has been some speculation Wallace might not retire now that Rivers has assured that he will return to the Celtics and star forward Paul Pierce is on the verge of signing a new contract, Rivers said the chances are “very little or none” the forward will play next season.

Boston general manager Danny Ainge, joining Rivers and the Celtics at the AirTran Airways Pro Summer League, said that “as far as I know” Wallace will retire. He also spoke of Wallace holding off to help the Celtics, saying, “We’re hoping that will happen. A piece (for the team to use in a possible deal).”

With that in mind, the Celtics can get back to searching for trades. By the way, today marks the third day in a row the Boston Herald has mentioned the C’s interest in Rudy Fernandez and Leandro Barbosa: We get it by now, guys. The Celtics are very intrigued by the possibility of adding one of those guys to be a sparkplug off the bench.

Speaking of trades, Josh Smith is reportedly on the market. Would Sheed, Big Baby and a first-round pick net him? Because that would be fab.

Any other potential trade targets you guys think would fit?