Veteran forward Rasheed Wallace has informed the New York Knicks that he will come out of retirement to play for the team this season, according to a league source.

Wallace first worked out for the Knicks last Saturday and had been contemplating a return in recent days.

The 15-year veteran retired after the 2009-10 season, which he spent with the Boston Celtics.

Wallace has not yet signed a deal, according to a team source. But the Knicks expect him at training camp, barring something unforeseen between now and the first day of camp Tuesday.

Wallace took a physical with the team late last week and has been working out at the Knicks' facility for most of the last week.

The New York Post reported on Saturday that Wallace would join the team on Monday.

The 38-year-old Wallace has ties to the Knicks. He played under Mike Woodson in Detroit. Woodson was an assistant under Larry Brown when the Pistons won the 2004 NBA title and was considered one of the main architects of Detroit's stingy defense.

Bill Strickland, Wallace's longtime agent, would not comment on his client's decision, out of respect for Wallace's privacy. But Strickland called Wallace's relationship with Woodson a "positive" one on Friday.

Wallace, a 15-year veteran, spent the bulk of his career with Portland and Detroit. He retired after a run to the 2010 NBA Finals with the Celtics, leaving nearly $12 million in guaranteed money on the table. According to reports, Wallace was out of shape early in his season with Boston, but seemed to get into form as the year continued.