Former 76ers all-star Allen Iverson, the NBA's most valuable player in 2001, announced his retirement last night, according to media reports.

The Memphis Grizzlies released the 34-year-old guard last week and no one picked him up.

"He had a great career if it is true," said Boston Celtics coach Doc Rivers, "but I still think he has more to offer."

On Nov. 16, the Grizzlies announced that they had ended their one-year contract with the 10-time all-star in what they called a mutual agreement.

Iverson began an indefinite leave of absence Nov. 7 to deal with a personal issue after playing only three games with the Grizzlies.

Few NBA teams had shown interest in Iverson before Memphis signed him to a one-year contract Sept. 10.

Iverson missed the preseason with a partially torn left hamstring and did not debut with the Grizzlies until Nov. 2 in Sacramento.

He averaged 12.3 points in three games off the bench with the Grizzlies.

Iverson was in his 11th season with the Sixers when they traded him to the Denver Nuggets in December 2006. Denver dealt him to the Detroit Pistons last November.

"I think he still has something left to give some team out there," said George Karl, who coached Iverson in Denver. "If that's his decision, he'll go down in history, I think, as the greatest little guard ever to play the game of basketball."

Iverson averaged 27.0 points per game in his career.

This article contains information from the Associated Press.