Allen Iverson announced on Wednesday in an Instagram post that he will not be coaching 3's Company when the second season of the BIG3 tips off later this month: 

"Due to scheduling conflicts, I have informed the @thebig3 that I will not coach this year and they support me in this decision. However, do know that this does not end my association or support of the league and I will attend games this season whenever able.

"I wish the league continued success. I encourage my fans to continue to support the Big 3 as I will. I am forever grateful for the opportunity to be a part of the Big 3 Family in its inaugural season. When my friend and idol, Ice Cube asked me to get involved in helping him I did not hesitate and would do it all again in at a moment's notice. I wish the league the players, coaches and fans continued success this and every season that follows."

Iverson initially signed on as a player/coach prior to the BIG3's inaugural season. However, he ceded his captaincy to DerMarr Johnson and pivoted to a full-time role on the bench shortly after the league began play. 

Five-time NBA champion and former Los Angeles Lakers guard Michael Cooper will take over for Iverson. 

Following April's draft, 3's Company now boasts Johnson, Baron Davis (co-captain), Drew Gooden (co-captain), Andre Emmett, Jason Maxiell and Derrick Byars.