I don't think he is playing (though the below opens up that possibility), but he is supposed to come back and look for media opportunities apparently. Here is an article from Windy:
New York -- As he sat courtside at Madison Square Garden about an hour before tipoff Friday night, Wally Szczerbiak accepted a steady stream of handshakes, hugs and smiles from his former Cavaliers teammates and coaches.
Szczerbiak is in New York rehabbing from knee surgery, one that has left his future as a player in doubt. After his contract with the Cavs expired in June, he spoke to several teams but also ended up talking to his several doctors. During the Cavs' playoff run, his troublesome left knee started flaring up.
He hoped rest would help, and he even was negotiating with several teams about a free-agent contract.
"When I started to amp it up for the season, it was bugging me, so I had to do something about it," Szczerbiak said. "I've had a lot of wear on that knee, and that is something that comes with four years of college and 10 years in the NBA."
Three weeks ago, Szczerbiak had his knee scoped to clean out a bone spur and repair his meniscus. It was the third surgery he's had on the same knee. He's not ruling out a return perhaps even in the second half of this season. But with the economy tight and his recovery uncertain, he's also realizing that he could have played his last game.
"Health is first and foremost, especially in life after basketball, and I don't want to be crippled at age 40," said Szczerbiak, who is 32 and an avid golfer.
"I've been fortunate to make a ton of money, the game has been so generous. I've been smart with my money, and I'm set for life, so that is nice to know. But from a competitive side, . . . I still think I might be able to help a good team."
Szczerbiak, who just completed a six-year deal worth more than $60 million, averaged 7.0 points and 3.1 rebounds while hitting 41 percent on 3-pointers in 74 games with the Cavs last season. He averaged 14.1 points in 10 seasons with the Timberwolves, Celtics, SuperSonics and Cavs.
"I felt great during most of last season, and I think I played pretty well in my role," Szczerbiak said. "In the playoffs, it flared up."
He still considers Cleveland home and plans on living there full time with his wife and children when his rehabilitation is finished. He will see the Cavs' doctors, attend games and might even work out at Cleveland Clinic Courts. And there's always a chance he still could help the Cavs this season.
The Cavs still have Szczerbiak's so-called "Bird rights," meaning they could use him in an exotic sign-and-trade scenario that has been seen in the NBA in the past. It would be a way to acquire a player without giving one up.
"I've thought about that, and it is really up to them," Szczerbiak said. "I won't be filing my retirement papers and they still have my rights."
http://www.cleveland.com/cavs/index.ssf/2009/11/cleveland_cavaliers_insider_wa.html
