NBA Commissioner Adam Silver finalizing contract extension, source tells AP

NBA Commissioner Adam Silver is about to celebrate his 10th anniversary in office. It will not be his last.

Silver is finalizing an extension to remain as commissioner of the NBA for several more years, a person with knowledge of the agreement said Saturday night. The person spoke to The Associated Press on condition of anonymity because no announcement from the league had been made.

CBC Sports has not independently verified The Associated Press report.

ESPN, which first reported the agreement, said Silver's new deal will stretch "through the end of the decade." It's the second time the league's owners have approved an extension for Silver, who also got one in June 2018 that had him under contract through the end of this season's NBA Finals.

Silver became commissioner on Feb. 1, 2014, officially succeeding former Commissioner David Stern — his mentor. That move had been in the works for years; Stern officially announced his retirement more than a year earlier and the Board of Governors unanimously approved the plan to have Silver, the longtime deputy commissioner, take over.

"He's been a great leader who built on David's legacy and really turned us into a major multinational organization," said Mark Cuban, who until recently had been the primary owner of the Dallas Mavericks.

Silver also led the league in its talks on what became a nine-year, $24 billion US media rights deal with ESPN and Turner Sports — sending revenue skyrocketing (from around $4.8 billion in his first season to an estimated $13 billion this season) and, in turn, serving as the catalyst to have player salaries soar as well. The league is currently negotiating its next media deal, one that is generally expected to be worth more than the existing