According to ESPN.com, NBA guard and All-Star player Allen Iverson is planning to retire from the game of basketball since on suitor has come out to sign him when he cleared waivers.

ESPN is reporting per Philadelphia Inquirer columnist and nationally syndicated radio host Stephen A. Smith that Iverson, through his representatives have informed him [Smith] of the former Philadelphia, Denver, Detroit and Memphis guard’s intentions to retire from the NBA.

“I would like to announce my plans to retire from the National Basketball Association,” Iverson said in a statement released to Smith, who was the first reporter to announce Iverson’s decision on his personal web site. “I always thought that when I left the game, it would be because I couldn’t help my team the way that I was accustomed to. However, that is not the case.”

“I still have tremendous love for the game, the desire to play, and a whole lot left in my tank,” Iverson said. “I feel strongly that I can still compete at the highest level.”

For a great small guard who had an illustrious NBA career, Iverson played 14 seasons in the NBA, but only three games this season with the Memphis Grizzlies and complained about coming off the bench. Though the team allowed Iverson to leave to attend to personal matters, it was a sign that he might not return as he was subsequently waived.

Once Iverson left the Grizzlies, it was rumored that he would join the New York Knicks, but the deal between both sides fell through.

Without a team to sign him and probably not excited about a potential payday in Europe, Iverson chose to end a career that had more highs than lows. Iverson was drafted No.1 overall in the 1996 NBA Draft by the Philadelphia 76ers. That season, he was named NBA Rookie of the Year for the 1996-97 season.

The two-time All-Star MVP in 2001 and 2005, Iverson is a player most NBA followers respect because he gives it his all every game. Iverson has played numerous NBA games with injuries, and still the 10-time NBA All-Star played such games scoring as if he did not have any injuries.

Though the Knicks changed their mind, if a potential championship winning team comes along and asks Iverson to come out of retirement, expect one of the most prolific scorers in the NBA to take up such offer.

Iverson’s legacy is that he would be ranked amongst the greatest small guards who ever played the game like a Nate ‘Tiny’ Archibald and Isiah Thomas. Those two guards were just as quick with incredible speed and played the game with heart. He might not have an NBA title, but he led Philadelphia to the NBA Finals in 2001 when they lost to the series 4-1 to Los Angeles Lakers.

Philadelphia is one place that Iverson has his greatest memories; he was with the team for 10 years, he won most of his awards there and consistently made the 76ers a contender while playing at 6 ft.