June 28, 2012; Newark, NJ, USA; NBA commissioner David Stern speaks at the conclusion of the first round of the 2012 NBA Draft at the Prudential Center. Mandatory Credit: Jerry Lai-US PRESSWIRE

NBA commissioner David Stern to retire in 2014

NBA commissioner David Stern announced today that he will retire on Feb. 1, 2014, exactly 30 years after he took over as commissioner. Deputy commissioner Adam Silver will replace Stern then.

“It’s been a great run,” Stern said. “It’ll continue for another 15 months. The league is in terrific condition. One of the things I did best was provide a successor.”

Stern is regarded by many as one of the best commissioners in all of sports. He has helped turn the NBA into one of the best leagues in sports right now and into a multi-billion dollar industry.

Here are a few notes on Stern via USA Today:

  • The league’s revenues are projected to be $5 billion this season with strong ticket sales, TV deals and global business initiatives using a variety of traditional and digital platforms.
  • Stern oversaw expansion with teams going into Charlotte, Minnesota, Miami and Vancouver and relocation that put teams in Memphis, New Orleans, Brooklyn, Oklahoma City, Sacramento and Los Angeles.
  • The rise in player salaries has been curbed because of the rookie salary scale and soft salary cap,
  • Stern has raised the profile of the league’s charitable efforts, such as NBA Cares and Basketball Without Borders.
  • The NBA has become a global game on and off the court, with foreign players rising to stardom in the NBA. NBA programming is available in more than 200 countries and in 47 languages.
  • Stern has adapted to changes, and the NBA is a pro sports leader in social media with more than 270 million “likes” and “followers” on Facebook and Twitter.

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