According to reports, NBA commissioner Adam Silver will extend his contract which will keep him in his position through the end of the decade. He was first appointed for the role in 2014, and he completed 10 years as the commissioner on Thursday.
Adam Silver has been one of the frontrunners in increasing the NBA’s revenue over the last decade. | Photo: X/@FOS
NBA Commissioner Adam Silver will reportedly renew his contract, keeping him in his position through the end of the decade. The 61-year-old was appointed for the role in 2014, succeeding David Stern. On Thursday, he celebrated his 10th anniversary as the commissioner of the NBA.
During his tenure, Silver has passed two bargaining agreements, including the recently negotiated collective bargaining agreement (CBA) which aims towards labor peace. An In-Season Tournament was also formed, which kicked off this season. He was also among the frontrunners in directing the league during the Covid-19 pandemic.
Silver also capitalised on US Gambling laws with effective changes, while also ensuring that the integrity of the NBA was upheld. One of his first moves in charge was handing a life ban on Los Angeles Clippers owner Donald Sterling from the league for making a racist remark publicly.
Silver has also been at the forefront of increasing the league’s revenue from which the owners and players have benefitted. In the last decade, the salary cap for every team was USD 63 million. This season, it has plunged to USD 136 million, with Milwaukee Bucks starlet Damian Lillard scheduled to earn a whopping USD 63.2 million in the 2026-27 season, as reported by USA TODAY.
Milwaukee Bucks was sold for USD 550 million in 2014, which set a new record during the time. In 2023, Jimmy Haslam and Haslam Sports Group, owner of the Cleveland Browns bought a 25 per cent stake from Milwaukee Bucks, valued at USD 3.5 million.
With the existence of a new CBA, the commissioner’s focus is now on securing a new media rights deal. It could also come with a potential expansion, opening possibilities of generating more income for the owners and players. Silver’s contract renewal comes as welcome news to the board and the fans as it could be the start of yet another era of new heights.