David Stern net worth

David Stern net worth

Net Worth: $135 Million

About David Stern

David Stern net worth

David Stern, full name David Joel Stern, is the commissioners of NBA. He started working as an outside counsel in 1966 and more than ten years later joined National Basketball Association as the General Counsel. In 1978 he was promoted to the position of Executive Vice President and became a Commissioner by the mid 1980s, following the retirement of Larry O’Brian. Stern is usually credited for NBA’s popularization during the 1990s and 2000s. David has recently announced his plans to step down in the beginning of 2014, after 30 year in the office. David Stern net worth is currently estimated at $135 million.

David was born in New York, in 1942. He graduated from Teaneck High School and later enrolled to study history at Rutgers University. While there, David became a member of Sigma Alpha Mu, a college fraternity founded in 1909. He continued his studies in Columbia Law School and was soon admitted to be qualified to practice law in New York. David Stern net worth started to grow in the late 60s, fallowing his association with NBA, which eventually led him to the position of an Executive Vice President.

During the 1980s Stern introduced two major changes in the league. First of all, he made a periodical drug testing compulsory for all the players. By the time Larry made this decision, a considerable part of athletes were occasional cocaine users. This habit affected their game and amounted to the decreasing popularity of NBA. Although drug abuse is not the kind of problem you can solve in a week, at least it showed to the public that NBA admits its troubles and tries to deal with it. His second major introduction was salary cap, dealing with team owners-players income inequality. Based on the new rules, part of the team’s revenues was redistributed for the players as a reward for the victory. Because of these and other decisions, there is a widespread agreement that he is worth every dollar that went to David Stern net worth during this time.

In 1984 Stern entered a position of NBA Commissioner. Probably every basketball fan in America remembers 1984-1985 as one of the best seasons in NBA history, for during this period some of the all-time greatest players- Michael Jordan, John Stockton, Charles Barkley and Hakeem Olajuwon- entered the field. Since the arrival of Michael Jordan NBA’s revenues shot to the stars and so did David Stern net worth. Thanks to Jordan’s popularity, NBA landed a deal with Nike and soon the ads picturing athletes wearing stylish shoes spread from the east cost to the west. Due to the smart management, by the year 2004 NBA expended to 30 franchises- three times more than it held by the time Stern started working on the league.

Now you have an idea why David Stern net worth is this huge


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