NBA Commissioner David Stern announced Thursday that the owners and players ratified the new CBA, the "final steps to ending the 161-day lockout that began July 1," according to Broderick Turner of the L.A. TIMES. The ratification "allows teams to officially open training camp Friday and for the free-agency period for the 2011-12 season to begin" at 2:00pm ET. The two sides "agreed to a 10-year labor deal, with an opt-out clause after six years." The deal will "save the owners about $250 million a season, but the 'soft salary cap' mostly remains, something the players fought hard to keep." The NBPA said that more than 86% of the 200 players "who voted were in favor of ratifying the deal." The owners "approved the deal by a 25-5 vote." The owners also "agreed to an expanded revenue-sharing plan among the teams, another step the players wanted" (L.A. TIMES, 12/9). Stern said the new CBA "will help us move toward a better business model, a more competitive league, and better alignment between compensation and performance." In N.Y., Ken Belson notes, "Less than half the number of eligible players voted." NBA Deputy Commissioner & COO Adam Silver said, "In terms of behavior of teams with this new harsher, more progressive tax, behavior is often difficult to predict. We’ve been wrong many times before in predicting owner behavior. There might be a psychological barrier to surpassing certain tax levels in this deal in addition to economic disincentives. But we’ll see." Belson notes the new revenue-sharing agreement, "which will take full effect in the 2013-14 season, calls for a transfer of $196 million from the richest teams to the teams that generate the least revenue." Stern, who "called the negotiations over revenue sharing 'tortuous,' said he expected six to nine teams to contribute to the revenue-sharing pool." A source said that under the new formula, the Lakers "will pay the highest amount, as much as $50 million a year, followed by the Knicks at $30 million." About "half a dozen teams would receive about $16 million each" (N.Y. TIMES, 12/9).
THINKING ABOUT THE END OF THE LINE: Stern predicted Thursday that this agreement "would be the final NBA labor deal before he steps down." Stern said, "I would say it's fair to say this is my last. This is a 10-year deal, with a re-opener at six. I'm not planning to be here certainly for the 10 and probably not the six" (ESPN.com, 12/8).
