NBA owners, players union agree to push back CBA opt-out date. Again.
The NBA and players union are progressing toward a new Collective Bargaining Agreement (CBA). Just not very fast progress. In December, they pushed the opt-out date for both sides — when either the owners or players could opt out and end the CBA on June 30 of this year — to Feb. 8.
They aren’t going to hit that deadline either so the two sides have agreed to push the new opt-out date back to March 31, they announced.
“The NBA and NBPA have mutually agreed to extend the deadline to opt out of the current Collective Bargaining Agreement (CBA) from Feb. 8, 2023, to March 31, 2023, as the two sides continue negotiations to reach a new agreement,” the sides said in a joint release. “If either party exercises the opt-out, the CBA’s term will conclude on June 30, 2023.”
There is one bit of good news in the talks, the owners have backed off the “upper spending limit” idea, reports Adrian Wojnarowski of ESPN. At least some owners — troubled by the massive spending into the luxury tax of the Warriors, Clippers, and Nets — pushed for an “Upper Spending Limit” for teams, which the players saw as a hard cap and a deal breaker.
Still, expect changes to the luxury tax system to attempt to rein in the spending of some owners. There are a lot of economic concerns that will push toward a deal getting done, including this interesting note:
The conventional wisdom has long been there would be no lockout and potential work stoppage because every side was making money again, the trajectory of the league was good, and nobody wanted to slam the breaks on that momentum. But there is always a risk, especially if the owners are fighting among themselves. Which is why a deal getting done sooner rather than later is best for everyone — especially fans.