Grizzlies waive Iverson

Allen Iverson's time in Memphis is over.


Iverson

The Grizzlies announced Monday in a statement that the team has ended its one-year contract with the 10-time All-Star and former league MVP in what it called a mutual agreement. Iverson is expected to be placed on waivers by 6 p.m. ET Monday, a league source told ESPN.com's Chris Sheridan.

Under the agreement, Iverson will receive only a fraction of the $3 million he was scheduled to earn. If he clears waivers, he will become an unrestricted free agent on Wednesday night.

"The Grizzlies and Allen Iverson have come to a mutual agreement that because of personal matters that forced him to leave the team on Nov. 7, Allen will step away from the game at this time, allowing him to focus on those matters," Grizzlies GM Chris Wallace said in a statement. "As a result, we will be ending our contractual agreement with Allen, which will allow both parties to move forward. We wish Allen the best."

Iverson has been on a personal leave of absence for 10 days. Grizzlies owner Michael Heisley had told Iverson's agent, Leon Rose, earlier Monday that team wanted to know soon whether Iverson would play or retire, the Memphis Commercial Appeal reported on its Web site.

In three games since returning from a hamstring injury, Iverson averaged 12.3 points and 3.7 assists in 22.3 minutes as a reserve.

Piston Boris wrote:Can't say this is surprising.

Iverson will never learn, it seems.

He brought this on himself.