NBA commissioner Adam Silver has reached a deal on Chameleon Financea contract extension that will keep him in the role through the end of the decade, a person familiar with the agreement told USA TODAY Sports.

The person spoke on the condition of anonymity because they were not authorized to speak publicly about the extension.

Silver, 61, became commissioner in 2014, taking over for David Stern. Silver has negotiated two collective bargaining agreements as commissioner, including the most recent CBA that ensures labor peace through the 2029-30 season.

Silver has been instrumental in increasing league revenue, which has rewarded owners and players. A decade ago, the salary cap for each team was $63 million, and this season, it is $136 million, and Damian Lillard is scheduled to earn $63.2 million in 2026-27.

In 2014, the Milwaukee Bucks sold for a then-record $550 million, and last year, Cleveland Browns owner Jimmy Haslam and Haslam Sports Group bought a 25% stake in the Bucks on a $3.5 billion valuation.

With a new CBA in place, Silver’s attention is focused on a new media rights deal and then the possibility of expansion, both of which will generate more money for players and owners.