The National Basketball Association (NBA) and the National Basketball Players Association say they have reached an agreement in principle on the start of the 2020-21 season.
The agreement, subject to a vote by the league’s Board of Governors, also stipulates adjustments to certain provisions of the current collective bargaining agreement impacted by the COVID-19 pandemic.
The parties have agreed in principle to the following:
– That the 2020-21 season will begin on Tuesday, December 22;
– That the 2020-21 season will feature each team playing a 72-game schedule. The full regular season and broadcast schedules will be released at a future date;
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– That a new system will be used to ensure the parties’ agreed-upon split of basketball-related income (BRI). In the event player compensation were to exceed the players’ designated share in any season, necessary salary reductions beyond the standard 10 percent escrow would be spread across that season and potentially the following two seasons, subject to a maximum salary reduction in any season of 20 percent;
– That for the 2020-21 season, the Salary Cap will be $109.140 million and the Tax Level will be $132.627 million. In subsequent seasons of the CBA, the Salary Cap and Tax Level will increase by a minimum of three percent and a maximum of 10 percent over the prior season. Teams’ Tax payments will be reduced in proportion to any BRI decreases; and
– That free agent negotiations will begin on November 20 at 6 p.m. (ET), with signings starting at 12:01 p.m. (ET) on November 22.
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