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."
