Sheed already limited the choices of teams he'd sign an extension with- The Cavs and the Knicks. They just traded with the Cavs so IMO the Knicks are in the front running for him based on that alone.
Sheed is the piece to the puzzle that IMO can get the Knicks over the hump- before and during the playoffs. He can hold his own in the low blocks against anyone in the East and has already proven himself as a big man who can survive and thrive against western conference opposition.
Getting Rasheed Wallace on the Knicks would make us a title contender.

Another season, and more adversity to persevere through. We will get the job done, even BETTER than last year.
GO KNICKS!