NBA commissioner David Stern announced he will be retiring as commissioner exactly 30 years to the day after taking control of the league. He will be replaced by the Deputy Commissioner Adam Silver.

“I decided that things are in great shape and there’s an organization in place that will ultimately be led by Adam that is totally prepared to take it to the next level,” David Stern said Thursday.

Although he has his fair share of haters, Stern is considered by many to be a model sports commissioner.

Adam Silver replied to Sterns comments, “For all the things you’ve done for the NBA and for sports generally, I think there’s no doubt that you’ll be remembered as the best of all-time as commissioners go and you’ve set the standard, I think not even just for sports league commissioners, but for CEOs in any industry.”

The board of governors unanimously decided Silver would be replacing Stern and they’re hoping to have his contract completed by the next time the meet in April.

From a business prospective, over 30 years reining as commissioner, David Stern has helped accomplish an awful lot for the NBA brand all over the world.

In his time as commissioner, seven franchises have been added to the league and revenues have increased 3o-fold! Even at 70 years old, Stern encourages the league and it’s players to actively participate on social media sites and engage with fans. In fact, the league and players combine for over 3000 million likes and followers on Facebook and Twitter combined!

Listen to this interview of David Stern talking about social media and the NBA brand all over the world!