Just over a month after the NBA and its player association agreed in principle on a new collective bargaining agreement, the paperwork has been signed. It is official that there will be labor peace in basketball for years to come.
The agreement is for seven years and will continue through the 2023-24 season. The deal can be opted out of after the sixth year.
Featured in the new CBA are considerable increases in player salaries, from maximum contracts to veteran minimum deals. Maximum salaries for players with at least 10 years of service re-signing with their current team can earn up to $36 million per year, or about $210 million over the course of a five-year contract. For those with between seven and nine years of service, the maximum salary is expected to be around $31 million.
Also noteworthy in the new agreement is the creation of two-way contracts for the NBA Development League. There will be a healthcare program for former players, better benefits for current players and a shorter preseason.
The one-and-done rule prohibiting players from jumping from high school to the NBA will remain in place.
The details are important, of course, but the best news is that there will not be a lockout.
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