Allen Iverson to retire Oct. 30

Allen Iverson, who became one of the most prolific scorers in NBA history while playing for the Philadelphia 76ers, will officially announce his retirement at the club's home opener Oct. 30, according to sources close to the situation.

The 38-year-old Iverson, an 11-time All-Star, finished his career averaging 26.7 points per game, the sixth-best career scoring mark in league history.

He trails only Michael Jordan, Wilt Chamberlain, LeBron James, Elgin Baylor and Jerry West in career points per game. At just 6 feet tall, Iverson is the smallest player ever to average 20 points or more for his career.

Iverson, who also averaged 6.2 assists and 2.2 steals for his career, played his first 10 seasons in Philadelphia, winning Rookie of the Year honors in 1997 after being the No. 1 overall pick out of Georgetown. He led the league in scoring in four seasons and steals in three. He is Philadelphia's franchise leader in 40-point games (76) and 3-pointers (885) and is second behind Hal Greer in points (19,931).

In 2001, Iverson won the league's MVP award while leading the Sixers to the NBA Finals, where they lost in five games to Shaquille O'Neal, Kobe Bryant and the Los Angeles Lakers.

In 2006, Iverson was traded to the Denver Nuggets. He also played with Detroit and Memphis before returning to the Sixers for 25 games during the 2009-10 season.

In August, Slam Magazine reported that Iverson would announce his retirement during the summer.

It's fitting that Iverson will officially retire on a night when the Sixers play the Miami Heat. James recently told ESPN The Magazine that Iverson was his second-favorite player (behind Jordan) growing up.

"He played like a 6-8 2-guard," James said of Iverson. "He was one of the greatest finishers we've ever seen. You could never question his heart. Ever."

In recent years, Iverson has made headlines off the court. In December, divorce filings revealed he had serious financial issues.