The NBA and the NBPA last night reached a tentative new seven-year CBA, preserving labor peace in a league that this year expects to rake in $8B, almost double the amount from the '11-12 lockout-shortened season. The agreement, which must still be ratified by players and owners, is effective July 1 and runs through June 30, 2024, with a mutual opt-out clause after six years, according to a source. Both sides will extend the current CBA’s Dec. 15 mutual opt-out deadline until Jan. 13 to allow for ratification of the new CBA.

A source said that the new CBA does not alter the split of basketball-related income between owners (49%) and players (51%) that is part of the current CBA. A major change under the new deal is that the players have opted to take back their group licensing rights. The union had been taking an annual check of about $40M from the league instead of marketing their own players. The new CBA also calls for the number of preseason games to be cut from eight to six, and for the season to start a week earlier to cut down on the number of back-to-back games.

NBA.com notes the deal comes amid a "reservoir of television money that has helped both owners and players." YAHOO SPORTS: "The agreement includes a great deal of status quo economically." ESPN.com: "Most players who spoke Wednesday seemed thrilled." The N.Y. TIMES writes the new CBA "expands the definition of what qualifies as basketball-related income."

Pepsi has renewed and extended its beverage and salty snacks sponsorship rights with the Cowboys for an additional 10 years. New inventory includes a digital tunnel cover at AT&T Stadium, along with retail and other wide-ranging rights at The Star, the team's HQ and practice facility in Frisco, Texas. In Frisco, Pepsi’s Tostitos brand will title sponsor the “Tostitos Championship Plaza,” a 40,500-square-foot venue that includes a half-sized football field and a 2,270-square-foot video board. Also at The Star, Pepsi’s Gatorade is opening the brand’s third Sports Science Institute. Lipton RTD Ice Tea has also been added in the new deal. The renewal makes Pepsi a Cowboys sponsor through '26, even if the company does not renew its NFL league sponsorship rights in '22.

See more in today's issue of THE DAILY.

NBCUniversal, the IOC and USOC today will announce plans to "launch an Olympic television channel" in the summer of '17, according to execs involved in the joint venture. This comes amid "falling ratings for the Olympics in the U.S. and a renewed effort by the IOC to create a new generation of Olympic sports fans." For NBCU, the channel "represents a doubling down on its investments and an effort to try to keep people interested in Olympic sports in the years between the 17-day sports festivals" (WSJ.com, 12/15).

Tiger Woods has signed a multiyear contract to play Bridgestone balls, making him the "first player in the Nike stable to sign an endorsement deal with another equipment company" since Nike four months ago announced its exit from the golf equipment business. Terms of the new deal "weren't immediately made available." Bridgestone Senior Marketing Dir Corey Consuegra said the agreement "will allow Tiger to play an instrumental role in the development of future balls." Woods played Bridgestone balls earlier this month at the Hero World Challenge (GOLF.com, 12/15).

MLS today is expected to reveal "details on the process" for its next round of expansion, including the "cost to join the league." The current expansion fee is $100M, but "some analysts predict that to rise" to $200M. A total of 10 cities are "competing for four" expansion spots: Austin, Cincinnati, Detroit, Nashville, Raleigh, Sacramento, St. Louis, San Antonio, San Diego and Tampa/St. Petersburg (DETROIT NEWS, 12/15).

Pitt AD Scott Barnes in a statement last night denied a report that he has accepted the same job at Oregon State: “I am aware of a report stating that I have accepted a position at Oregon State. That report is not true” (PITTSBURGH TRIBUNE-REVIEW, 12/15). Barnes is "likely" to take the Oregon State job, according to one report (Portland OREGONIAN, 12/15). Barnes was interviewed by OSU officials yesterday. This comes "not even 20 months after Barnes was named" Pitt AD following a seven-year tenure at Utah State (PITTSBURGH POST-GAZETTE, 12/15).

The Grizzlies last night beat the Cavaliers 93-85 in Memphis on a  night when Cavs stars LeBron James, Kyrie Irving and Kevin Love "unapologetically stayed in Cleveland for a day off" (Memphis COMMERCIAL APPEAL, 12/15). It is "hard not to feel bad" for fans who "shelled out a lot of money to see" the defending NBA champions (USA TODAY.com, 12/15). James said, "I've been in this league 14 years. I shouldn't have to explain me sitting out a game" (CLEVELAND.com, 12/14). Mavericks Owner Mark Cuban: "On the one hand it seems unfair to the Memphis fans, but on the other hand the science is all there that says guys need rest" (FT. WORTH STAR-TELEGRAM, 12/15).

ESPN’s Dan Le Batard said “there’s not a damn thing” NBA Commissioner Adam Silver can do about this issue (“Highly Questionable,” ESPN, 12/14). L.A. Times columnist Bill Plaschke said the “teams have to take care of themselves” (“Around The Horn,” ESPN, 12/14). ESPN’s Tony Kornheiser: “This is a disgrace.” A ticket for a Cavaliers game without James is “worthless” (“PTI,” ESPN, 12/14).

The CAA World Congress of Sports will be held April 19-20 at the Monarch Beach Resort in Dana Point, Calif. Register today and take advantage of the early registration offer. Go to www.WorldCongressofSports.com.

Uber will "remain operating in Houston at least through the Super Bowl, after City Council approved changes to the city's paid ride rules ironed out between the popular ride-hailing service and Mayor Sylvester Turner" (HOUSTON CHRONICLE, 12/15).

The '17 WNBA All-Star Game will take place at KeyArena in Seattle on July 22 (WNBA).

Top Rank yesterday signed U.S. boxer Antonio Vargas, the fourth '16 Olympian to reach a deal with the promotion company (SPORTS.YAHOO.com, 12/14).

"There are some real strengths to the Las Vegas market" – NFL Commissioner Roger Goodell (MERCURYNEWS.com, 12/14).

"There just isn’t any opportunity in Oakland or San Diego" – Colts Owner Jim Irsay, on the likelihood of the Raiders and Chargers remaining in their home markets (L.A. TIMES, 12/15).

"We all think the iceberg’s melting. The only question people have is what’s the temperature of the water? I think the water’s pretty cool. So I think this is a longer-term process. Others think it’s a little hotter, and it’s going to be more of a revolution. I think it’s more of an evolution" – MLB President of Business & Media Bob Bowman, on changes in media consumption of sports being a threat to the long-standing economic model (WASHINGTON POST, 12/15).

"Much ado about nothing" – NFL Giants President & CEO John Mara, on questions about the possible use of deflated footballs during a Dec. 4 game against the Steelers (NEWSDAY, 12/15).

"Our single-ticket sales that night, we had a spike. Just for Coyotes games. People were like, 'Holy crap, this is a really exciting sport.' There was a huge, huge spike in interest" – Coyotes President & CEO Anthony LeBlanc, on the impact that Arizona native and Maple Leafs C Auston Matthews' four-goal NHL debut had on Coyotes ticket sales (ESPN.com, 12/14).

NFL.com profiled Seahawks Exec VP & GM John Schneider, whose hiring in '10 "unleashed a semi-random tandem that would produce one of the NFL's great success stories." He and coach Pete Carroll have since formed a "mutually satisfying shotgun partnership that is the envy of the football universe." They are "in perfect harmony when it comes to running the Seahawks."

The Louisville COURIER-JOURNAL's Tim Sullivan writes Louisville AD Tom Jurich's response to allegations that the school's football coaches "illicitly obtained" inside information on Wake Forest's game plan was "tone-deaf." It offered "not a smidgen of shame nor a note of apology from an athletic director already dealing with an NCAA investigation into recruiting sex parties in a campus dorm."

Also: 

• Linda McMahon running Small Business Administration "makes complete sense."
• MLB got it right when it comes to its new policy on rookie hazing practices.
• Should Bud Selig's HOF selection "open the doors" for PED users, too?
• How HBO Sports is "turning its back on boxing" while Showtime serves the fan.
• INDIANAPOLIS STAR: 368 gymnasts allege sexual exploitation by adults in the sport.
• Washington state's bill to allow firearms in stadiums is the "last thing America needs."
• The Nets' deluxe package offers a "parallel universe of individually tailored privilege."
• Rogers Place Assistant GM Sheena Way reflects on the arena's first 100 days.

I misspelled Mike Francesa's name in an earlier tweet. Wow. Yo, Santa: We all want the same thing this year: an edit function on @Twitter.

— Neil Best (@sportswatch) December 15, 2016

MLS to unveil expansion process details today. Arn Tellem, point man for Gores-Gilbert MLS effort, says they haven't formally bid yet.

— Bill Shea (@Bill_Shea19) December 15, 2016

Football's power of forgiveness. Or forgetfulness? Mackay hired by SFA despite admitting sending sexist racist homophobic anti-Semitic texts https://t.co/z0zv4qjFNt

— Richard Conway (@richard_conway) December 15, 2016

class action suit field last night in District of NJ on behalf of Borough of Carteret and others against FieldTurf USA Inc. and its parent

— Mike Ozanian (@MikeOzanian) December 15, 2016

If you see a tweet we will not want to miss, send it to us at editorial@sportsbusinessdaily.com

Last night’s “Final Jeopardy!” category was “American Authors.”

“Nominated eight previous times, he finally won a Nobel Prize for Literature in 1962, six years before his death.”

ABC’s Jimmy Kimmel noted Google "released their list of the most-searched phrases of 2016. The top-trending search terms for 2016 were Powerball, Prince, Hurricane Matthew and Pokemon GO. ... I think that sums our priorities as Americans up. It’s money, celebrities, the weather and playing games on our phones. … The least-searched phrase on Google for 2016? L.A. Rams tickets” (“Jimmy Kimmel Live,” ABC, 12/14).

“Who was John Steinbeck?”