After 16 seasons in the NBA, veteran point guard Derrick Rose has called it quits.

Rose, who was fired by the Memphis Grizzlies on Monday, announced his retirement in a statement on Instagram on Thursday.

“Derrick Rose and I spoke a few days ago about his decision to retire from the NBA and start the next phase of his life with his family,” said former Memphis and current Arkansas head coach John Calipari said in a statement. “His decision was well-considered and his concern for his family was clear. His appreciation for his long career and what it meant to him was genuine. It also gave me the opportunity to thank him and let him know my appreciation for what he has done for me and my family.

“He was always an incredible teammate, maybe the best I’ve ever coached. He was a coach’s dream, genuine and always trying to make people happy, going all the way back to high school. He was shy and introverted, but one of the most competitive players with an unending will to win. He had one gear and anyone who played against him would know what I mean. The people he touched along the way all have feelings for him because of his loyalty and quiet determination. He and his family know that I love and appreciate them. I’m just glad I got to be a small part of it and enjoy the ride with him! And I’m moving on from here!”

SNY’s Ian Begley reported after the Grizzlies released Rose that the team actually let him out of his contract, indicating that he had already made a decision on his next career move. He was originally set to make $3.4 million through the 2024-25 season in the final year of his contract with Memphis.

Rose began his career as the No. 1 overall pick in the 2008 NBA draft by the Chicago Bulls. He quickly established himself as one of the league’s most exciting players, winning the 2009 Rookie of the Year award and earning three consecutive All-Star selections from 2010 to 2012.

In 2011, Rose became the youngest player in NBA history to win the NBA MVP award after leading the Bulls to a league-best 62-20 record while averaging 25.0 points, 4.1 rebounds and 7.1 assists in 81 games. Unfortunately, his career took a turn the following year when he suffered a devastating torn ACL.

Rose was never the same after his return to the court, never averaging 20 or more points or appearing in 70 games in a season following his knee injury. After leaving Chicago, he bounced around the league with stops with the New York Knicks, Cleveland Cavaliers, Minnesota Timberwolves and Detroit Pistons.

In his first year in Memphis, Rose suffered from an injury-ridden year, missing significant time due to knee and hamstring issues. He played in just 24 games and averaged 8.0 points, 1.9 rebounds and 3.3 assists in 16.6 minutes of action.

Despite the disappointing season, the 35-year-old said in April that he planned to continue his career. At the time, he assumed he would remain with the Grizzlies, but added that he was motivated to bounce back.

“Yeah, I’ll be back,” Rose said. “I’ve talked to (general manager) Zach (Kleiman), I’ve talked to coach. … This summer is all about tackling my rehab, my workouts and staying disciplined.”

Rose seems to have changed his mind, as he will now enjoy his time off the court in his retirement. He finishes his career with averages of 17.4 points, 3.2 rebounds and 5.2 assists in 723 games played.

Rose will be remembered as one of the most athletic and exciting point guards to ever play in the NBA, and many wonder what his career would have been like without the series of unfortunate injuries he suffered.