Yahoo – Breaking news: Rasheed Wallace is back in the NBA, and the Knicks are still the Knicks. Wallace, who was last seen waddling up the court for the Boston Celtics in June of 2010, is due to sign a training camp contract with the team as coach Mike Woodson fleshes out his roster. The 38-year old could make up to $1.7 million this year if he makes the team, according to the New York Post. The New York Daily News’ Frank Isola was the first to report that Wallace took a physical on Thursday. I was the first to feign surprise to one of my cats that Wallace passed the physical. Marc Berman of the New York Post characterizes this as a “no risk” move for New York, and he’s just about correct in that regard. The versatile big man’s contract is worth a relative pittance to a team that will already be on the hook for a nearly $80 million payroll even before taking Wallace on, as the team long ago committed to a massive salary structure even without matching Jeremy Lin’s poison pill deal he eventually signed with Houston. At his best, Wallace will use his significant old man gifts (gifts he employed even in his early 20s) and all-around hoop smarts to contribute to the Knicks’ bench. At worst, he’ll just sit on the Knicks bench.

JR Smith, Carmelo Anthony, and Rasheed Wallace. Thats a solid, functioning lineup right there. Christ almighty. Between Chandler and Sheed racing against each other to lead the league in T’s, fat old Jason Kidd getting liquored up, Marcus Camby and Kurt Thomas potentially dying of old age on the court, and Mr. Glass the Black Jew Amare Stoudemire, I don’t know how much New York Knicks basketball I can tolerate. If Isiah Thomas gets added to this mix I’m boycotting.

You guys know what this means though, don’t you? Resurrection of Ball Don’t Lie shirts!