Coach Mike Woodson offered the 38-year-old a spot as an assistant coach on a Knicks team that hopes to be a contender in the Eastern Conference.
But the big man turned it down.
Instead, Wallace is heading to Detroit to help out with a rebuilding project. Wallace has agreed to join the Pistons as an assistant coach, returning to the team he helped win the 2004 NBA title.
"That opportunity was open and it was available to me," Wallace said of the Knicks' gig. "But this job came up. And to me, I think what signed, sealed and delivered it and made it even more sweet is that my kids are still in Detroit."
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JAMES DOLAN on Isiah : He's a good friend of mine and of the organization and I will continue to solicit his views. He will always have strong ties to me and the team.