Well, if the Celtics used the amnesty provision on Rasheed Wallace they would be below the luxury tax threshhold and would presumably have the full MLE available.
Did the Celtics ever reach a formal settlement with Rasheed regarding his retirement or did Rasheed simply file his retirement papers with the league? If it's the latter situation, then the retiring player forfeits any right to earn a salary from his former team and his salary should not count against the team's salary cap.
Here's what Larry Coon said about Rasheed's retirement:
Should Wallace decide to file retirement papers with the league, $6,322,320 would come off the Celtics' books next season.
So assuming that Rasheed filed retirement papers with the league before the start of last season, then his salary for the 2010-11 and 2011-12 season should not count against the Celtics' salary cap. However, I have not been able to find a link confirming whether he actually did or did not file his retirement papers.
Edited by Statman, 30 November 2011 - 08:35 PM.