Miami has dropped out of the running for Iverson.
"We are out of the Allen Iverson conversation," Riley said Monday before the Heat played the New Orleans Hornets. "This isn't going to move forward. We have discussed every scenario. It never became formal offers.
"It's time for us to move on."
"I thought it was in the best interest of the franchise to at least explore it," Riley said. "As of today, we're done with it."