We have many clients that faced succession issues with their business and know that there are many steps to a successful transition. This February the NBA is facing a big change as commissioner David Stern steps down after 30 years at the helm, to be replaced by Adam Silver. The NBA saw explosive growth during Stern’s tenure, as revenue went from $118 million to $5.5 billion.
According to this article from Bloomberg Businessweek, Stern has taken the necessary steps to groom Silver, but only time will tell whether it was enough for the new leader as he guides the league forward. Silver will attempt to take the league global with possible expansion into Europe. This movement across the continent seems unlikely to work, as soccer remains extremely popular. Here’s to hoping Silver can prove me – and other naysayers – wrong.
~ Lance