NBA Commissioner Adam Silver speaks during the press conference ahead of NBA Global Games London 2017 between the Denver Nuggets and the Indiana Pacers at the O2 Arena, London, UK, Jan 12, 2017. [Photo/Agencies]

"We've had a longtime relationship with the Chinese Basketball Association, and I personally have had a longtime relationship with Yao Ming since the very first day he was drafted into the league. He has become a good friend over the years, and he's been an excellent businessman," said Silver, who also noted that Yao has "played a very active role in improving the Chinese Basketball Association."

The CBA has just announced that Yao will co-head a transition team to prepare for its upcoming elections, which many believe to be the first step for him to become the boss of Chinese basketball's governing body.

Silver also had high praise for Yao's personal qualities and says he has the potential to improve Chinese basketball at both the league and national levels.

"He's very smart. He's very dedicated. He's very hard-working. He's a member of the Hall of Fame. He knows the game as well as anyone, and I think he could take Chinese basketball to that next level, both in terms of the quality of play for the national team and also for league play in the CBA," Silver remarked.