This afternoon, NBA team owners unanimously voted to ratify the amended Collective Bargaining Agreement agreed upon late last night by the league and the NBPA, per Adrian Wojnarowski of ESPN (Twitter link).
The NBA’s Board of Governors, which is comprised of the 30 NBA team owners and their reps plus league commissioner Adam Silver, held a conference call this afternoon, and the agreement will now allow the 2020/21 season to kick off on December 22.
As we detailed earlier today, the updated CBA will contain the same $109,140,000 salary cap and $132,627,000 luxury tax line as the 2019/20 season. The ’20/21 season will last for 72 games, and free agency will kick off next Friday, November 20.
Currently, there is still a moratorium on trades, but that is expected to be lifted two or three days ahead of the November 18 draft. Luxury tax penalties will be reduced for taxpaying teams if the league’s basketball related income declines.
Finally! Let’s hoop! It has been waaay too long!