The NBA and the National
Basketball Players Association announced today that they have
reached agreement in principle on the start of the 2020-21 season,
as well as adjustments to certain provisions of the current
collective bargaining agreement impacted by the COVID-19 pandemic.
The agreement is subject to a vote by the league’s Board of
Governors.
The parties have agreed in principle
to the following:
· The 2020-21 season will begin on
Tuesday, December 22.
· 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.
• 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.
· 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.
· 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.
ANALYSIS: As expected, the NBA and NBPA have reached an agreement on a new CBA for the 2020-21 season. The NBA Draft on November 18th will kick off a hectic month for the league as teams try to prepare for a December 22nd start date. Some key dates to take away from the new CBA include November 20th (free agency begins) and November 22nd (players can sign contracts).