NEW YORK — Magic Johnson and Larry Bird, whose coast-to-coast rivalry in the 1980s propelled the NBA to a new level of popularity, will be honored with the Lifetime Achievement Award.

The Hall of Famers and 1992 U.S. Olympic teammates will receive the award on June 24 at the NBA Awards.

The honor comes on the 40th anniversary of their meeting in the 1979 NCAA championship game, when Johnson’s Michigan State team beat Bird’s Indiana State squad.