Role: David Stern was the first General Counsel of the NBA and became Commissioner in 1984.
Legacy: His leadership transformed the NBA into a global powerhouse.
Challenges and Initial Conditions
Initial Situation: Low television revenues and financial turmoil in several franchises.
Key Players: Inherited Larry Bird, Magic Johnson, and Michael Jordan.
Key Achievements
Salary Cap: Helped create and grow the player’s salary cap from $3.6 million to nearly $59 million by 2014.
Television Revenues: Increased from $22 million to approximately $930 million.
Franchise Values: Grew from $400 million to $19 billion.
Strategic Marketing
Global Icons: Marketed superstars as global icons, starting with Magic Johnson and Larry Bird in the 80s, Michael Jordan in the 90s, and later Kobe Bryant and LeBron James.
Global Expansion: First professional sports league to play regular season games outside the U.S.
Olympics Participation: Allowed NBA players to compete in the Olympics, starting with the 1992 Dream Team.
Challenges and Controversies
Player Lockouts: Presided over four player lockouts.
Disciplinary Decisions: Some players were angered by tough disciplinary decisions and an unpopular sideline dress code.
Legacy
Adaptation and Growth: Ability to adapt and grow the game over 30 years.
Hall of Fame Induction: Inducted into the Basketball Hall of Fame in 2014.
Succession: Handed over to Adam Silver, who continues to lead the league.
Conclusion
David Stern attributed the NBA's success to the efforts of thousands of people.
Expressed confidence in Adam Silver’s leadership for the future of the NBA.
Notable Quotes
"The league is in spectacular shape going forward under the extraordinary leadership of Adam Silver."