NEW YORK, USA (AP) — NBA Commissioner David Stern will retire on February 1, 2014, 30 years after he took charge of the league. He will be replaced by Deputy Commissioner Adam Silver.
The announcement came at an NBA Board of Governors meeting on Thursday.
Stern told owners during their two days of meetings of his plans, and the board unanimously decided Silver would be his successor.
"I decided that things are in great shape and there's an organisation in place that will ultimately be led by Adam that is totally prepared to take it to the next level," Stern said.
Stern, who turned 70 last month, became commissioner on February 1, 1984. He has been the NBA's longest-serving commissioner, establishing the league's brand around the world, presiding over team expansion and overseeing the establishment of the WNBA and the NBA Development League.
"You'll be remembered as the best of all-time," Silver told Stern, sitting to his left on a podium during a news conference.
Stern said he decided on his plans about six months ago, having guided the league through a lockout that ended nearly a year ago. He said the league is in great shape and he's confident in Silver, who has been the league's number two since 2006.
"I don't know what else to say other than to recite what I told the owners yesterday in executive session," Stern said. "I told them that it's been a great run, it will continue for another 15 months, that the league is in, I think, terrific condition."
Stern is the one who got it there, taking over what was a second-rate league with little-to-no TV presence and making basketball one of the world's most popular sports.
He cited the success of the 1992 Dream Team, which helped spark the league's international explosion, but said everything "just keeps getting better than that".
"For the most part it's been a series of extraordinary experiences and enormous putting together of pieces of a puzzle and it goes on forever," Stern said.
He was the league's outside counsel from 1966-78, then its general counsel before becoming executive vice-president of business and legal affairs from 1980-84. He replaced Larry O'Brien to become the league's fourth commissioner.
The NBA has added seven franchises during his tenure.
Minnesota Timberwolves owner Glen Taylor, the outgoing chairman of the Board of Governors, said the average player salary had grown from $250,000 when Stern took over to $5 million.
The league has reported huge increases in ticket and merchandise sales, and TV ratings are at an all-time high.