There are no salary caps and no luxury taxes, yet the world’s most-watched soccer league is only getting more balanced

David Stern used to tell a joke. In his early years as NBA commissioner, he liked to say, his job was essentially to travel back and forth between Boston and Los Angeles to hand out the championship trophy. In the first five NBA Finals after he took the helm in early 1984, the Celtics and Lakers won all five titles, each missing the decisive series just once.

Current commissioner Adam Silver recalled the anecdote last June, ahead of the 2025 NBA Finals, by which time the league was guaranteed a seventh different champion in seven years. “We set out to create a system that allowed for more competition around the league,” Silver said then in his annual news conference. “The goal being to have 30 teams all in the position, if well managed, to compete for championships. And that’s what we’re seeing here.”