Jerry West, a Basketball Hall of Fame inductee as a professional player, Olympian and executive and the inspiration behind the NBA's iconic logo, died Wednesday at the age of 86.

The Los Angeles Clippers announced West's death in a statement. The basketball legend had been with the team as a board member and consultant since 2017.

"Jerry West, the personification of basketball excellence and a friend to all who knew him, passed away this morning at the age of 86," the Clippers said Wednesday. "His wife, Karen, was by his side."

This season's MVP winner in the NBA regular season will be the first recipient of the Michael Jordan Trophy.

The NBA announced on Tuesday the renaming of the award after the former Chicago Bulls star, widely considered to be the greatest basketball player of all time, who won the MVP award himself five times during his career.

The Michael Jordan Trophy is the headline of six newly-designed trophies, which includes a new award for Clutch Player of the Year, named after Los Angeles Lakers legend Jerry West, the only player to win the Finals MVP award as part of the losing team when he did so in 1969.

The Hakeem Olajuwon Trophy will be awarded to the Defensive Player of the Year, the Wilt Chamberlain Trophy for Rookie of the Year, the John Havlicek Trophy for Sixth Man of the Year and the George Mikan Trophy for Most Improved Player.

"Our new collection of trophies celebrates some of the greatest and most impactful players in the history of the NBA," said NBA Commissioner Adam Silver. 

"As we recognise the league's top performers each season, we also pay tribute to the legends who embody these prestigious awards."

The announcement comes shortly after the league revealed a new trophy for the 2022-23 campaign to be awarded to the team that finishes with the best regular-season record.

The Maurice Podoloff Trophy – named after the NBA's first commissioner – will be handed out for the first time this season. The MVP trophy had previously been named after Podoloff up until last year when it was retained by Nikola Jokic.

Brooklyn Nets' All-Star Kevin Durant has showered praise on upcoming opponent Ja Morant comparing him to Hall of Famers Michael Jordan and Allen Iverson.

The Nets take on Morant's Memphis Grizzlies on Wednesday, with Durant describing the first-time All-Star as a combination of Jordan, Iverson, Russell Westbrook and Derrick Rose.

Morant has enjoyed a breakout year after being pick two in the 2019 NBA Draft and leading the Grizzlies to the playoffs last season.

The 22-year-old Memphis guard is averaging 27.6 points up from 19.1 points in the 2020-21 season along with 5.7 rebounds, 6.7 assists and 1.2 steals this season for the playoffs-bound Grizzlies who have a 49-23 record.

"He's a combination of players, I feel," Durant told reporters after the Nets' 114-106 win over the Utah Jazz on Monday.

"I think the greatest players in our game can transform into anybody at any given point, and I think Ja is on the way to that. I mean when he's playing I see like two or three or four different hall-of-famers in his game.

"From Iverson, he might make a Jordan-like lay-up, he might run down the court like a Westbrook or a D-Rose. His float game is up there with some of the best that's ever played.

"I don't wanna gas him up too much since we're playing against him, but I think the sky is the limit for him. His future is obviously bright, and he makes everybody better playing against him."

On the Grizzlies, Durant added: "When you got a future Hall of Famer at the head of the snake, it just makes everybody better."

Durant scored 37 points with nine rebounds and eight assists in Monday's win as the Nets improved to 38-34.

The Nets forward surpassed close friend Jerry West (25,192 points) into 22nd on the NBA's all-time scoring charts with his 37-point haul on Monday.

"Winning the championship with Jerry, having conversations with him, knowing the history of who he is, he helped kickstart the NBA basically, it's an honour," Durant said.

"He's a legend in the game. He's almost like the godfather of our sport. Good to see him back around our game but it's even better to pass him. He's one of the all-time great players in this league."

Durant moves to 25,213 points, with Indiana Pacers legend Reggie Miller next above him on 25,279 points.