Its officially time to step away from the game. Allen Iverson formally announced his retirement from basketball during a press conference on Wednesday. Iverson is an 11 time NBA All-Star, and led the Sixers to the 2001 NBA Finals. Iverson said he was happy with his decision, even though he always thought he would dread the day he had to retire. His legacy is still felt in the league, as LeBron James just called him the best pound-for-pound player in NBA history.