A two-piece floating disc brake assembly comprises a hub with a plurality of radially extending drive cogs that engage a corresponding plurality of teeth that extend radially inwardly from the disc brake rotor. The disc is retained to the rotor by a plurality of retainers that are bolted to the axially outward surface of the brake rotor to engage the axially outward surfaces of the drive cogs. Axially float of the brake disc relative to the brake hub is provided by a plurality of axially slots between the drive cogs that are deeper than the thickness of the drive cogs. Because the axial clearance is established by the depth of the radial slots alone, tolerance on axially float is easier to maintain and is independent of the thickness of the brake disc.