The NBA and the National Basketball Players Association announced late Monday night that they have reached principle agreement on the start of the 2020-21 season, the length of the season and several elements of the collective bargaining agreement that were impacted by the COVID-19 pandemic.
The agreement is subject to a vote by the league’s Board of Governors.
- The season will begin on Dec. 22. This allows for the annual slate of nationally televised Christmas Day games.
- Teams will play a 72-game schedule, 10 fewer than usual.
- The salary cap will be $109.14 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 3 percent and a maximum of 10 percent over the prior season.
- Free agent negotiations will begin on Nov. 20 at 6 p.m. ET, with signings starting at 12:01 p.m. ET on Nov. 22. The league opted to keep the free agency period after the draft, which is on Nov. 18.
- The sides also announced 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.