He's not a tool. Half the stuff people say about him is garbage.
Months ago he was on a podcast with Bill Simmons and Bill brought the fact that nobody wanted to buy the Hornets. Stern quickly corrected him. Apparently there were multiple parties interested in purchasing he Hornets, but the NBA wanted to make sure that they were buying into a healthy franchise. They wanted to wait until new CBA was finalized and they knew what to expect. Kinda like saying, "I have multiple people who want to buy this car, but I'm not going to sell it until I have mechanic look at it, give it a tune-up, fix the dent on the driver's side door... and make sure I'm getting the most bang for my buck and not selling someone a lemon"...
There have been rumors that a mystery buyer is influencing Stern and wasn't comfortable with the deals being offered. I believe it.
This would be like if someone was very interested in your car, but you said, "hey... i'll sell it to you next week.. as soon as the mechanic checks it for you" and the guy said "ok sounds good". Then you go, "oh... and I'm going to paint it pink" to which the guy responds, "no deal... keep it the same color or paint it blue"