With no apparent interest from NBA teams, Allen Iverson is set to retire, according to an online report.

Commentator Stephen A Smith published a statement on his website on Wednesday attributed to Iverson. It said Iverson plans to retire but also that "I feel strongly that I can still compete at the highest level".

The statement also said Iverson has tremendous love for the game and the desire to play, adding there is "a whole lot left in my tank".

"His legacy would be huge," Cleveland Cavaliers All-Star LeBron James said. "He's one of the best when you talk about guys 6-foot and under in the game of basketball. He played injured and he played hard every single night. I don't think it should end this way, but if it does, he's left a lot of great things behind."

If this is the end for Iverson, he leaves with the 2001 MVP award, four scoring titles and a playoff scoring average of 29.7 points that ranks second only to Michael Jordan. He led the Philadelphia 76ers to the 2001 NBA finals but never won a championship.

The 10-time All-Star played three games this season with the Memphis Grizzlies before taking a leave of absence to attend to personal matters. He was waived after the sides agreed to part ways.

It was the second straight ugly ending for Iverson, who was unhappy last season playing for the Detroit Pistons. He was upset Detroit coach Michael Curry and Memphis' Lionel Hollins used him as a reserve.

The New York Knicks considered signing Iverson last week after he cleared waivers, before deciding he would take too much playing time away from younger players they are trying to develop.

The Knicks seemed to be the only team which would consider bringing in Iverson, so there was no guarantee he'd play in the NBA this season, anyway. Still, the announcement on Wednesday came as a surprise to George Karl, who coached Iverson in Denver.

"I think he still has something left to give some team out there. 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," Karl said.

"I was happy to have him for a couple of years and hopefully our paths will cross. But I have a sneaky feeling that somewhere along the way an injury or a circumstance with a team will open that window back up."