The NBA and National Basketball Players Association announced Thursday that the league's new collective bargaining agreement has been signed by both sides. The seven-year pact will run through the conclusion of the 2023-24 season.
Thursday's news represents more of a procedural formality than anything. On Dec. 23, USA Today's Jeff Zillgitt reported the agreement became official when the NBPA ratified the new CBA.
According to an official memo from the NBA, players' share of basketball-related income will not change over the next CBA's lifespan. Instead, it will remain in what the league has termed the "49 percent to 51 percent band."
Furthermore, both sides own opt-out clauses that they can exercise following the conclusion of the 2022-23 season.
And as NBA.com's David Aldridge reported when the sides first reached a tentative agreement, compensation will rise for players across the board.
Officially, contracts signed with the mid-level exception or bi-annual exception will increase by 45 percent from the previous CBA to adjust for the rising salary cap. Additionally, ...
Read Full Article at Bleacher Report - NBA
Article written by Alec Nathan
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