ɹˈiːd hˈæzbiːn ɪndˈʌktᵻd ˌɪntʊ ðə bˈæskɪtbˌɔːl hˈɔːl ʌv fˈeɪm æz ɐ plˈeɪɚ ænd wʌz ˈɔːlsoʊ nˈeɪmd ɪnðə fˈɪfti ɡɹˈeɪɾɪst plˈeɪɚz ɪn ˌɛnbˌiːˈeɪ hˈɪstɚɹi lˈɪst ɐnˈaʊnst æt ðə lˈiːɡz fˈɪftiəθ ˌænɪvˈɜːsɚɹi ɪn nˈaɪntiːnhˈʌndɹɪd nˈaɪnti sˈɪks.
Reed has been inducted into the Basketball Hall of Fame as a player and was also named in the 50 Greatest Players in NBA History list announced at the league's 50th anniversary in 1996.