Report: 76ers waive Gerald Wallace

The Philadelphia 76ers have reportedly cut ties with veteran forward Gerald Wallace.

Wallace was waived by the 76ers on Saturday afternoon, according to ESPN's Marc Stein. Given that the Sixers are rebuilding, Philadelphia always made for an unlikely destination for the 14-year veteran.

The 33-year-old was mostly a non-factor last season, but the veteran swingman found himself as part of two trades this summer, owing mostly to his $10-million price tag, which served as salary ballast. The Boston Celtics traded Wallace to the Golden State Warriors for David Lee in late July. Six days later, the Warriors flipped Wallace to the Sixers for Jason Thompson.

Wallace will become an unrestricted free agent once he clears waivers. Only the Portland Trail Blazers, who are also in the midst of a rebuild, have enough cap flexibility to swallow his salary.

Age and injuries sapped Wallace of much of his athletic ability, which has effectively rendered Wallace ineffective. The once high-flying forward played just 286 minutes across 32 games last season.