The NBA and NBPA agreed on an amended collective bargaining agreement which was made official on Tuesday evening after a unanimous vote by the NBA board of governors.
So, we officially have a season and the action heats up next week with a moratorium on transaction expected to be lifted by Monday (Nov. 16) in advance of the draft on Wednesday (Nov. 18). The the whirlwind kicks in with free agency starting on Nov. 20 and training camps Dec. 1 which is less than three weeks away!!!
While there is still a moratorium on official deals, talks are already heating up. In fact, the first major reported rumor from Woj last night had the Suns and OKC discussing a deal for Chris Paul. Get ready for reports with “agreed in principle” added to qualify any deals struck before deals can officially by struck.
Here are some key dates and numbers from agreement:
- Season to start on Tuesday, December 22 with teams playing a 72-game schedule
- Free agent negotiations will open at 6:00 p.m. ET on Friday, November 20. Signings can be finalized at 12:01 p.m ET on Sunday, November 22.
- Salary cap and luxury tax will remain flat from the 2019-20 season. Salary cap will be around $109 million with the luxury tax threshold at around $132 million
- Escrow for player salaries will remain 10%, but could be adjusted depending on league revenues
- Tax payment following the 2020-21 season will be reduced by the same percentage that Basketball Related Income (BRI) decreases
The adjusted plan that keep the cap the same and offer some luxury tax payment relief doesn’t help the Pacers and, depending on how many fans they can eventually have attend games, further tilts the NBA fairness scale in favor of the big market teams.
That’s the bad news, but the good news is far more important today. We have a 2020-12 NBA season in place with a start date right around the corner.