NBA commissioner Adam Silver is reportedly finalizing a contract extension that will take him to the end of the decade or 2030. Silver who is nearing his 10th anniversary as NBA commissioner will have big tasks ahead of him after the completion of formal negotiations with the board of governors. A new media rights deal and navigating the possibilities of league expansion are among the immediate concerns of Adam Silver.
How much will Adam Silver earn after signing the new contract?
Silver was already the highest-paid commissioner across the four major North American sports with an annual salary of 10 Million dollars, but there is no information on how much increase he will get after the contract Extension.
ESPN’s Adrian Wojnarowski tweeted a pic of Adam Silver with the captions
“BREAKING: NBA commissioner Adam Silver is finalizing a contract extension that’s expected to take him through the end of the decade, sources tell ESPN.”
BREAKING: NBA commissioner Adam Silver is finalizing a contract extension that’s expected to take him through the end of the decade, sources tell ESPN. pic.twitter.com/jRYcYv4ZjQ
— Adrian Wojnarowski (@wojespn) January 28, 2024
Silver has negotiated two collective bargaining agreements as commissioner, which includes the CBA that ensures labor peace through the 2029-30 season.
Adam Silver the main man behind NBA’s success
Silver was the league’s deputy commissioner for eight years under David Stern. Adam Silver went on to take over for Stern in 2014 and since then he has played a massive role in the league’s development.
Silver has worked tirelessly to increase the league’s revenue. Before Silver took over, the salary cap for each team was 63 million dollars and now in just a decade, it is 136 million dollars. Milwaukee Bucks were sold for a record 550 million dollars in 2014, but now its value increased significantly, Jimmy Haslam and Haslam Sports Group who are the owners of the Cleveland Browns bought just a 25% stake in the Milwaukee Bucks for a whooping 3.5 Billion dollars.
Adam Silver did an incredible job During the COVID-19 pandemic in March 2020. He first suspended the NBA season then he later concluded the season in a controlled environment at the Orlando bubble. The 61-year-old started the NBA In-Season Tournament in the 2023-24 season, aiming to grab the viewer’s interest from early on in the season.
Adam Silver was ranked the most influential person in the sports business in 2016 and has earned various other honors for his excellent Leadership in the NBA.