NBA changes its logotype after 48 years
The original logo, designed in 1969 by Alan Siegel of Siegel+Gale has risen to iconic levels; it even retroactively nicknamed Jerry West, whose silhouette Siegel used in the design, "The Logo." The NBA—which earns $3 billion per year in licensing—wanted to keep the logo "essentially the same with slight changes."
The update uses a modified Action Condensed, which van Blokland originally designed for his website LettError. In its announcement article, The NBA stated that "the taller, leaner typeface embodies the NBA game and its athletes." OCD redesigned more than just the logo, bringing Action Condensed to NBA Summer League, NBA TV, and more.
As mentioned, the colors have also changed—the older blue and red have been swapped for deeper, darker replacements. These new colors appear stronger and more distinct from those used by the NFL, MLB, and NHL.
You can read more about the redesign here, and see it on uniforms and collateral starting this season.