The NBA and the National Basketball Players Association (NBPA) ratified Wednesday the league’s newest Collective Bargaining Agreement (CBA) which was described as the one that “will ensure labor peace through the remainder of this decade.”
The brand-new CBA will take full effect starting in Jul. 1 this year and will run through the 2029-30 campaign, totalling seven seasons. The final year holds an option for both the league and the players union to either opt in or decline to negotiate a new deal.
One of the key components of the new CBA is the introduction of the tax apron. Teams above the tax apron aren’t permitted to acquire players via sign-and-trade deals, use more than the taxpayer portion of the mid-level exception, or use the bi-annual exception – restricting high-spending teams like the Golden State Warriors, L.A. Clippers and the Milwaukee Bucks.
After years of speculation, the league will now also adapt an In-season tournament which is set to commence next 2023-24 season. Teams will fight for a prized money of $500K per player for the top place.
Other significant changes and additions to the new CBA rule are the 65-game eligibility of players for individual awards, 10 percent yearly increase of the salary cap, removal of marijuana testing, promotion of gambling and cannabis companies, and the approved investment of players to the NBA and WNBA franchises via a private equity firm selected by the NBPA.
The NBA and NBPA already reached tentative deal of a new CBA since Apr. 1.
