The NBA and the Players Association have signed the new Collective Bargaining Agreement, according to an official league press release. The seven-year agreement will take effect on July 1, 2017, and run through the 2023/24 season.
Both the NBA and NBPA have the ability to opt out of the CBA after the 2022/23 season by providing notice to the other party by December 15th, 2022.
According to the release, here are some key points:
- The players’ share of Basketball Related Income (BRI) will remain in the 49%-51% range.
- Existing rules on maximum free agent contract length will be retained.
- The Mid-Level Exceptions and Bi-Annual Exception for 2017/18 will be increased 45% from the amounts in the 2011 CBA.
- The Rookie Scale will also be increased 45%, with the increase phased in over three years.
- The 2017/18 Minimum Annual Salary Scale will increase minimum salaries for that season by 45%. The revised amounts will increase or decrease annually beginning in 2018/19 at the same rate as the salary cap.
- The 2017/18 limit on cash paid or received in trades will be increased from $3.6MM to $5.1MM,
- Most veteran extensions will be permitted to cover five total years.
- The moratorium period when free agents cannot be signed has been shortened and will now end each season on July 6. The salary cap and tax level will be set each season by June 30.
- The period for a team with a right of first refusal to match an offer sheet will be shortened from three days to two days.
- A player will be able to sign an offer sheet during the moratorium period.
- The July 23 deadline for a team to unilaterally withdraw a qualifying offer will be changed to July 13.
- The 150% Traded Player Exception for non-taxpaying teams will be increased to 175%.
- The Over-36 Rule will be modified to be an Over-38 Rule.
- Teams will be required to carry 14 players on their rosters, subject to the ability to carry fewer players for limited periods of time.
- Each NBA team will be permitted to have on its roster up to two players under “Two-Way Contracts.” A “Two-Way Player” will provide services primarily to the NBA team’s D-League affiliate.
- The period for training camp and the preseason will be shortened by seven days, and the maximum number of exhibition games per team prior to any regular season will be reduced to six from eight.