David Stern was instrumental in making the NBA so popular. He spent three decades as an NBA commissioner and the league thrived under his control. From Michael Jordan to Kobe Bryant to Tim Duncan, numerous champions have become rich and powerful characters thanks to Stern's leadership. Unfortunately, David Stern passed away in January 2020, but not before leaving behind an incredible financial legacy and fortune. Becoming commissioner of the NBA represented the top of the mountain for David Stern. After all, he first entered the league in 1966 as an outside adviser. He has made his way up the corporate ladder, with stints as general counsel and executive vice president of the NBA. Finally, he took over from Larry O'Brien as the league's commissioner in 1984.
Stern took over the role and followed her. Along the way, he ran a league that made a huge leap in popularity in the 80s, thanks to superstars like Magic Johnson and Larry Bird. For the next decade, Michael Jordan and the Chicago Bulls provided more than enough dish entertainment both on and offstage.
Under Stern's supervision, the NBA also flourished internationally. The 1992 Dream Team would never have existed without your blessing. He also founded the NBA draft lottery, which has produced both stars and big hits. When he retired in 2014, David Stern certainly left the game in a much higher position than when he took office.
One of the key lessons learned from David Stern's 30-year tenure as NBA commissioner is his confidence in the power of the stars. Magic and Bird wowed audiences with their unique skills and great personalities. They fueled a highly competitive rivalry between the Celtics and the Lakers that is still talked about today.
The league didn't really take off until Jordan arrived, however. The Bulls clinched six titles behind the backs of Jordan and teammate Scottie Pippen in the 1990s. And when Phil Jackson took over the Lakers, another dynasty took over, thanks in large part to the titan tandem of Shaq and Kobe.
Read also: SavaSchultz
In some ways, Stern deserves some criticism for having a select number of teams attain championship status during his tenure. However, there is no question that the NBA made electrifying television thanks to the number of recognizable stars who appeared at the helm of the NBA during Stern's three decades.
Leading thirty years in one of the most popular professional sports leagues in the world proved to be a lucrative undertaking for David Stern. According to Celebrity Net Worth, he had a net worth of $ 135 million when he died on New Years Day in 2020. He reportedly made an annual salary of $ 20 million. The Manhattan native not only did banking personally, but turned the NBA into a revenue-generating machine.
When Stern came on board, the 23 NBA teams combined were worth only $ 400 million, according to Forbes. When Stern retired in 2012, Forbes valued each NBA franchise at $ 393 million. He has reportedly generated approximately $ 12 billion in value for the owners during his 30 years as an NBA commissioner. Large television deals have made the league extremely profitable and helped homeowners fill their pockets even more.
Ultimately, David Stern increased the popularity of the NBA while helping many players, coaches, and owners get rich in the process. Let's see if Adam Silver can live up to his legacy.
One group that should never complain about Stern's tenure are the longtime owners of the sport who ran a mint under Stern's supervision. The NBA was a completely different league in 1984 when David Stern took over. CBS paid $ 22 million annually for the broadcast rights to the games. Playoff games were shown on tape, and only the NBA Finals were streamed live. Average audience per game in the league was disgraceful in places like Atlanta (7,139), Chicago (6,365), Cleveland (5,075) and Washington (7,920).
Four current owners bought the league between 1981 and 1985 at prices between $ 11 million and $ 19 million. (How far along was Jerry Reinsdorf, who bought the Bulls for $ 16 million during Michael Jordan's first season in 1985 and now has more than $ 600 million in fortune?) The 23 league teams combined were worth about of $ 400 million. .
Fast forward to today. The NBA owners annually distribute $ 930 million from television contracts. The 2012 NBA Finals were broadcast in 215 countries. Average attendance for all regular season games last season was 17,273. In our last look at the NBA business, we valued the average NBA team at $ 393 million. That average is sure to top $ 400 million in our next shot, following recent sales of two underperforming franchises in the New Orleans Hornets for $ 338 million and the Memphis Grizzlies for $ 350 million. The new NBA collective bargaining agreement has made even small franchisees indispensable assets. The total value of the 30 NBA teams is now more than $ 12 billion.
Obviously, it wasn't all that Stern did to generate $ 12 billion of value for homeowners. His timing was flawless. Stern arrived four months before Jordan was drafted by the Chicago Bulls and set the NBA on fire.
The fourth edition of ITIL (IT Infrastructure Library) was presented by Axelos in February 2019. The ITIL v4 (PDF and other versions available) focuses on practical aspects of IT management and provides a holistic approach with emphasize on Agile, DevOps and digital transformation topics.#2The Subtle Art of Not Giving a Fuck
The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life. In this generation-defining self-help guide, a superstar blogger cuts through the crap to show us how to stop trying to be “positive” all the time so that we can truly become better, happier people. For decades, we’ve […]#3Read People Like a Book
Read People Like a Book: How to Analyze, Understand, and Predict People’s Emotions, Thoughts, Intentions, and Behaviors (How to be More Likable and Charismatic).#4The Intelligent Investor
One of the greatest investors of the twentieth century, Benjamin Graham, proposed his philosophy of “value investing” that could protect investors from dramatic errors and teaches them to develop long-term strategies. This approach is exhaustively explained in The Intelligent Investor (PDF download available) book, which remains the stock market bible since its first […]#5How Money Works
Money is the oil that keeps the machinery of our world turning. By giving goods and services an easily measured value, money facilitates the billions of transactions that take place every day. Without it, the industry and trade that form the basis of modern economies would grind to a halt and the flow […]#6Business Communication
Everyday Business Storytelling: Create, Simplify, and Adapt A Visual Narrative for Any Audience. Communication is one of the basic functions of management in any organization and its importance can hardly be overemphasized. It is a process of transmitting information, ideas, thoughts, opinions and plans between various parts of an organization. Good and effective […]#7How Business Works
Every type of business has to choose an ownership structure. Although there are variations globally, most countries offer similar types of legal entities, from a single- person private enterprise to a massive organization trading on a stock exchange. There are three key considerations: how big the venture is expected to grow; the complexity […]#8The Essential Manager’s Handbook
The step up to a managerial role can be an exciting, but daunting, new challenge. Suddenly, you are responsible for making sure your team is working together, achieving results, and that overall your department is running smoothly. There is no single technique to becoming an excellent manager, but the Essential Manager’s Handbook provides […]#9Operations Management
Operations Management is important, exciting, challenging, and everywhere your look! Important, because it’s concerned with creating all of the products and services upon which we depend. Exciting, because it’s at the centre of so many of the changes affecting the world of business. Challenging, because the solutions that we find need to work […]#10Where Are the Customers Yachts
In 1940 Fred Schwed, a stockbroker whose father had lost everything as a short seller on Wall Street during the Roaring Twenties, published this timeless classic on how the stock market really works. Schwed, a pleasure-loving, cultured man who had been expelled from Princeton University in his final year for entertaining a lady […]
Corporate Finance, Eleventh Edition This book has been written for the introductory courses in corporate finance at the MBA level and for the intermediate courses in many undergraduate programs. Some instructors will find our text appropriate for the introductory course at the undergraduate level as well.#12ISE International Business: Competing in the Global Marketplace
The 13th edition provides a complete solution that is relevant (timely, comprehensive), practical (focus on applications of concepts), integrated (integrated progression of topics) and the most up-to-date on the market. Available with Connect: Our highly reliable homework and learning management solution that embeds learning science and award-willing adaptive tools to improve student results.#13Winning: The Unforgiving Race to Greatness
Winning: The Unforgiving Race to Greatness (Tim Grover Winning Series) From the elite performance coach who wrote the international bestseller Relentless and whose clients included Michael Jordan, Kobe Bryant, and Dwyane Wade, comes this brutally honest formula for winning in business, sports, or any arena where the battle is relentless.#14Your Next Five Moves: Master the Art of Business Strategy
From the creator of Valuetainment, the number one YouTube channel for entrepreneurs, comes a practical and effective guide for thinking more clearly and achieving your most audacious business goals. Both successful entrepreneurs and chess grandmasters have the vision to look at the pieces in front of them and anticipate their next five moves. […]#15Your Next Five Moves
Your Next Five Moves: Master the Art of Business Strategy (Hardcover / Audio / Kindle). Creator of Valuetainment, the # 1 YouTube channel for entrepreneurs and “one of the most exciting thinkers” (Ray Dalio, Principles author) in business today, provides a practical and effective guide to thinking more clearly and getting the most out […]#16Finding the Winning Edge
When those who chronicle the history of the game list the individuals who had the greatest impact on the National Football League, Bill Walsh will clearly be among the names of Halas, Lombardi, Brown, Landry, Noll and Shula. But when you consider who has impacted the game most in terms of those who […]#17International GAAP 2020 2021
Generally Accepted Accounting Practice under International Financial Reporting Standards. The content of this book takes into account all accounting standards and other relevant rules issued up to September 2020. Consequently, it covers the IASB’s Conceptual Framework for Financial Reporting and authoritative literature listed below. References in the main text of each chapter to […]#18Schweser FRM Part I Secret Sauce
This review book is a valuable addition to the study tools of any FRM exam candidate. It offers concise coverage of exam topics to enhance your retention of the FRM curriculum. We suggest that you use this book as a companion to your other, more comprehensive study materials.#19We Should All Be Millionaires
We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power. Are you ready to fill your life with more peace, power and joy? We Should All Be Millionaires details a realistic, achievable and step-by-step path to create the support, trust and plan you need to master […]#20THE BUSINESS ANALYST’S HANDBOOK
In my previous life in chemical engineering, I used to carry around Perry’s Chemical Engineers’ Handbook—a working reference book containing every table and tool the professional might need to refer to in carrying out his or her role. When I began working as a business analyst, I looked for a similar handbook for […]