April 16, 1999 6:53 PM EDT

NEW YORK (Ticker) -- "The Great One" will end the greatest career in hockey history Sunday.

Wayne Gretzky, who owns virtually every NHL scoring record, officially announced his retirement this afternoon in a funereal atmosphere at Madison Square Garden.

"This should be a party, this is a celebration," Gretzky said as he addressed the sad faces who came to bid farewell to the player who raised hockey to new heights. "I hope everyone understands I look upon the next few days as something I will enjoy very much. Today, I officially retire and Sunday will be my last game."

At that point, Gretzky's voice cracked with emotion and he said, "I should take my own advice, huh?"

Gretzky, 38, will play the final game of his legendary 20-year NHL career Sunday when the New York Rangers host the Pittsburgh Penguins.

Joining Gretzky at the podium today were his wife, Janet, his sons, Trevor and Ty, NHL commissioner Gary Bettman, Rangers coach John Muckler, general manager Neil Smith, MSG president Dave Checketts and Cablevision president Jim Dolan.

"This is a day all fans of sports, all fans of hockey, are sad because Wayne contributed so much for our game," Bettman said in brief remarks at the news conference. "You (Gretzky) have been the consummate ambassador for sports everywhere."

Rumors of Gretzky's retirement began swirling last week. Speculation intensified when Gretzky's father, Walter, told a Canadian radio station three days ago that his son likely would retire.

After all but announcing his retirement following Thursday night's game in Ottawa, Gretzky made it official today.

"A lot of people were asking me why at this time," he said. "It's a gut feeling, something I really believe is right. But now, next year or 20 years from now, I'm always going to miss the game of hockey.

"Everything that happened in my life, I owe to the National Hockey League and the game of hockey. All the wonderful people I've met, my friends, my family, all my teammates, I owe everything to this game."

Muckler, Smith and many of Gretzky's friends tried to convince him to play one more season. Even his wife urged him to "make sure" before he announced his retirement. But Gretzky remained adamant.

"I never wavered, I never budged. It's the right time," he said. "I'm at peace of mind, it's the right decision. I'm done."

Thursday's game was the last in Canada for Gretzky, a native of Brantford, Ontario. He was cheered loudly and often at Ottawa's Corel Centre and virtually all of the sellout crowd of 18,500 refused to leave the building, even after Gretzky made several curtain calls.

Gretzky is the NHL's all-time leader with 2,856 points, 894 goals and 1,962 assists while holding playoff highs with 122 goals, 260 assists and 382 points.

He owns 61 NHL records, including 17 single-season marks, and has won nine Hart Trophies as the league's most valuable player. In 1981-82, he recorded 92 goals and four years later totaled 163 assists and 215 points -- all NHL records.

By scoring his 1,072nd goal March 29, Gretzky became the all-time leading goal scorer in hockey history, moving past boyhood idol Gordie Howe. The record includes regular-season and playoff games in the NHL and the defunct WHA.

An 18-time All-Star, Gretzky has led the NHL in scoring 10 times, assists 14 times and goals on five occasions.

More important than all of his awe-inspiring statistics has been Gretzky's off-ice role as hockey's worldwide ambassador.

He was dealt by Edmonton to the Los Angeles Kings on August 9, 1988 in a trade that rocked the sports world. His presence helped establish a foothold for hockey on the West Coast and pave the way for the addition of the San Jose Sharks and Mighty Ducks of Anaheim.

Gretzky was acquired by the St. Louis Blues in February 1996 for four players. He signed as a free agent with the Rangers the following year.

This has been a trying season for Gretzky, who missed 12 games with a neck injury. New York has been a disappointment and at 33-37-11 will miss the playoffs for the second straight year.

Although the Rangers missed the postseason in two of Gretzky's three years in New York, he raved about playing in the Big Apple.

"It's been one of the greatest thrills in my life to play in this city the last three years," Gretzky said. "I encourage everyone to get that opportunity."

Despite playing injured for much of the season, Gretzky leads the team with 61 points on nine goals and 52 assists in 69 games.

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