There was a time when NBA Live was the gold standard for basketball games. That was a long time ago.

Over the last decade, NBA 2K has taken center stage as the No. 1 NBA video game in the world, making the days of NBA Live a distant memory. The league itself recognizes this, too.

That's why the NBA, the NBPA, and NBA 2K have announced a seven-year licensing deal reportedly worth $1.1 billion, according to Steve Noah of Operation Sports:

“The NBA has been an outstanding partner throughout the history of the NBA 2K franchise, contributing significantly to its unparalleled success and the ability to grow its audience around the world across a myriad of platforms and offerings,” said Strauss Zelnick, Chairman and CEO of Take-Two. “We’re thrilled to be in business with Adam and the entire team at the NBA, and enter into the longest-ever partnership extension between our organizations. Together, we’re confident that we will continue to find new and innovative ways to captivate and engage basketball fans, and expand further the success of the NBA 2K brand.”

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NBA 2K first launched on Sega Dreamcast for the 1999-00 campaign, with Allen Iverson gracing the cover. It has since exploded into one of the most popular sports games worldwide, and NBA commissioner Adam Silver is happy to partner with 2K Sports going forward:

An entire generation of basketball fans engage and connect with NBA teams and players through NBA 2K,” said Silver. “We are grateful to extend our partnership with Take-Two and the NBPA to build on the enormous popularity of the NBA 2K franchise and the continued global growth of basketball.”