NBA Chief Gets $27.5-Million, 5-Year Contract

David Stern is the NBA’s latest $3-million man.

The commissioner received a five-year, $27.5-million contract, including a $10-million bonus, according to a report in USA Today.

Team owners confirmed Stern’s annual salary--3 1/2 times what any other sports commissioner is paid--and said it was approved during last week’s All-Star break.

The NBA declined comment on the story.

The pay raise follows the recent network and cable television package Stern negotiated with NBC and Ted Turner’s TNT. The deal will boost average payments to clubs from $2.55 million to $8.1 million a year.

Of the other major sports commissioners, Paul Tagliabue receives $1 million a year, baseball’s Fay Vincent gets $500,000 and the NHL’s John Ziegler is paid $425,000.

Stern’s salary reportedly will cost each club $129,630 each year, or 2.4% of the $5.5-million increase the teams are getting from the new television deal.

“David is very deserving,” Phoenix Suns President Jerry Colangelo, who is on the league committee that approved Stern’s deal, told USA Today. “Stern has done an outstanding job leading our league.”

“We think he’s an exceptional commissioner, a terrific talent, and he should be appropriately paid,” Daniel Finnane, president of the Golden State Warriors, said.