Glen Taylor, Minnesota Timberwolves owner and outgoing NBA Board of Governors chairman, right, laughs with Commissioner David Stern during a basketball news conference following meetings in New York, Thursday, Oct. 25, 2012. Stern announced he will retire on Feb. 1, 2014, 30 years after he took charge of the league. He will be replaced by Deputy Commissioner Adam Silver. Taylor will be replaced as board chairman by San Antonio Spurs owner Peter Holt. (AP Photo/Kathy Willens)
