Commissioner David Stern said last night he won’t fine or suspend Sixers rapper/guard Allen Iverson over the All-Star’s controversial, soon-to-be-released CD. However, Stern indicated Iverson would edit out some of the most offensive lyrics. That Iverson will tone down the song was confirmed by a Player’s Association official last night.

Iverson spent an hour before the game meeting in Stern’s Manhattan office. Iverson’s violent lyrics, now being played on the radio, is said to insult gays, women and blacks.

Stern released a statement in which he said Iverson has agreed to “take steps to eliminate from the final version of his CD those lyrics that many have found to be so offensive.” The commissioner called it “coarse, offensive and anti-social,” and said Iverson has “done a disservice to himself.”

Iverson said, “No regrets. No regrets at all. It was a good meeting. I’m glad we had it. Everything in the album, people are going to take [offense to]. But I could assure you people are picketing and protesting for, they’re out there doing it for no reason.”