David Stern said his 30-year run as the NBA's commissioner will come to an end Feb. 1, 2014.
ESPN reports the NBA Board of Governors tapped Adam Silver, Stern's deputy, as the successor.
"Stern, 70, has been the NBA's commissioner since Feb. 1, 1984. Last December, when a new collective bargaining agreement was announced, he predicted it would be the final labor deal before he steps down.
"'This is a 10-year (labor) deal, with a reopener at six,' Stern said at the time, explaining that either the owners or the players' union can opt out after six seasons. 'I'm not planning to be here certainly for the 10 and probably not the six.'"
The AP says that Stern oversaw the league through incredible growth. ESPN says the commissioner guided the league through the eras of "Larry Bird, Magic Johnson and Michael Jordan."