The fateful day has finally come. One-time NBA favorite Allen Iverson officially announced his retirement from the NBA on Wednesday, during a press conference in Philadelphia.

"Obviously everybody know why we're here, I'm formally announcing my retirement from basketball," said Iverson. "I thought once this day came it would be basically a tragic day. I never imagined the day coming, but I knew it would come. I feel proud and happy to say that I'm happy with my decision and I feel great. I'm in a great mind state, making a decision. I have to thank God for giving me the opportunity to...not really accomplish all the things I accomplished in the NBA but just giving me the opportunity to be drafted."

Check out the full announcement above.