In a shocking turn of events, heading into the new season, NBA veteran Derrick Rose has officially announced his retirement.

On Wednesday, Rose posted on Instagram a cryptic video of what many believed to be a hint at him retiring. For those who guessed that, you all are correct.

In the early hours of Thursday, the 35-year-old announced on Instagram that he is retiring after 16 years in the league.

He wrote almost a love letter to the game of basketball, what it meant to him, and what it has done for his life.

While Rose is seen as one of the NBA’s biggest what-ifs due to his ACL injury in his prime years with the Chicago Bulls, he still had an undoubtedly incredible career. He was the youngest MVP winner at 22, a two-time FIBA Gold Medalist, Rookie of the Year, three-time All-Star, and All-NBA First Team.

Memphis has granted Rose’s request to be released from his contract, which officially means he will not play for them in the upcoming season. He has most definitely retired.

According to The Athletic’s Shams Charania, the Memphis Grizzlies are waiving veteran Derrick Rose.

The 35-year-old, who appeared in 24 games last season, can clear waivers soon. This will potentially allow him to join the eighth team in his career.

Last season, Rose averaged 8.0 points and 3.2 assists in 16.6 minutes per game.

Derrick Rose Says No Buyout Has Been Discussed

Derrick Rose Says No Buyout Has Been Discussed

The Phoenix Suns are a team monitoring the Derrick Rose situation, however, according to Rose himself, there is no situation where a contract buyout is going to happen.

“No, I haven’t talked to anybody about that. I haven’t talked to anyone,” Rose said Saturday when asked if he had considered seeking a buyout. “I haven’t even thought about it. I’m locked in to my thing right now. It’s kind of hard to think about something that I’ve never pursued and never talked about with them.”

Rose claims that New York and him haven’t discussed a buyout, even after falling out of the rotation since late December.

“No. Y’all heard something? I’ve just been locked in, doing my recovery. [I] talk to Thibs about the team, talk to Leon about the team, but other than that, I haven’t talked to them about [a buyout],” Rose said. “I think that we’ve been so transparent in the past that if I was thinking about moving, or they was to move me somewhere, they’d give me a heads up.”

March 1st is the deadline, so if the Suns are going to have a chance to get a playoff-eligible Derrick Rose, then the Knicks will have to buy him out in the coming days.

Rose is making $14.5 million this season with a team option for the 2023-24 season worth $15.6 million.