NBA Commissioner Adam Silver has received a five-year contract extension, a reward for accomplishments that include rapid growth in the value of franchises and attendance records around the league being set annually.

Board of Governors Chairman Larry Tanenbaum of the Toronto Raptors announced the deal, one that keeps Silver under contract through the 2024 NBA Finals. Financial terms were not disclosed.

Silver, 56, led a smooth series of negotiations with the NBA players union on the way to a new collective bargaining agreement in 2016 — one where salaries around the league soared thanks to a $24.1 billion, nine-year television and media rights deal that he helped strike with Disney and Turner Sports two years earlier.

Franchise values of the 30 NBA clubs have risen fivefold, to $60 billion now. This was also the fourth consecutive season where the league set an all-time attendance record, with 22.1 million fans attending games in 2017-18.

This season also marked the launch of the first eSports league — the NBA 2K League.

Silver has been with the NBA since 1992, and became deputy commissioner under David Stern in 2005.

Lakers offer

The Los Angeles Lakers have extended a $5.6 million qualifying offer to forward Julius Randle, making him a restricted free agent. The Lakers’ move ensures they can match any offer sheet from another team signed by Randle starting July 8.

The 23-year-old Randle is coming off his best season with the Lakers, who chose him with the seventh overall pick in 2014. He averaged a career-high 16.1 points with 8.0 rebounds and 2.6 assists while playing in all 82 games.

Hammon moves up

Becky Hammon is moving up San Antonio’s coaching ladder.

The Spurs announced they have promoted Hammon, and that she will fill the spot vacated by James Borrego on the team’s roster of assistant coaches.

Borrego left the Spurs to become the new coach of the Charlotte Hornets.

Hammon has been a member of the San Antonio coaching staff since 2014, and was one of six assistants under Gregg Popovich last season. Hammon has been among the assistants who sit in the row directly behind the Spurs bench, but this move means she will be in the front row.