NBA commissioner David Stern announced Thursday that he will retire in February 2014 and deputy commissioner Adam Silver will take over as his replacement.
The announcement came out of the NBA's Board of Governors meetings in New York City. Stern and Silver held a joint press conference. Here are a few quotes.
"I like to think I did an adequate job," Stern told reporters. "I could not be happier to know that I'm seated here, knowing I'll be succeeded by Adam ... This gives us the opportunity to make a very, very smooth transition."
"I can't begin to express my gratitude for all the NBA has done for me over the last 20 years," Silver said. "I'll do my absolute best to grow this league."
Stern will step down on Feb. 1, 2014, exactly 30 years after he took over the commissioner's job on Feb. 1, 1984.
Mike Prada of SB Nation has more here.
Stern also held his annual preseason media conference call on Thursday. There wasn't anything of particular relevance to the Portland Trail Blazers, but if you're interested in a digest version of what he had to say, here you go.
-- Ben Golliver | firstname.lastname@example.org | Twitter