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NBA, NBPA Reach Agreement On New CBA

An NBA lockout will be avoided, as the league and the Players Association have reached a tentative agreement on a new CBA.

NBA: NBA Draft Jerry Lai-USA TODAY Sports

Update 1: Sources: The NBA, NBPA will keep the one-and-done draft rule for now, but will continue researching and discussing issue over life of CBA.Wojnarowski

Update 2: Sources: Under new CBA, the league will shorten preseason and start the regular season a week sooner. Another way to space out games.Wojnarowski

Update 3: Among the highlights of new CBA: huge raises for rookie scale, mid-level, bi-annual and 10-year vet deals.Aldridge

Update 4: Also, new “designated veteran deal” will allow teams to pick 1 vet as they can do now with rookies for extensions under certain criteria.Aldridge

Update 5: Also: health care packages for retired players & benefits for current ones, including tuition reimbursement, to be co-paid by league, union. — Aldridge

Update 6: Full breakdown of details so far can be found here.

Update 7: The window to match or pass in restricted free agency in the NBA's new labor deal is being reduced from three days to two days, sources say. — Stein

Update 8: New CBA wil add two "two-way roster spots" adding a 16th and 17th player that will be used for D-League assignments. Still only 13 active.Kyler

The NBA and NBPA have reached a tentative agreement on a new 7-year Collective Bargaining Agreement, Adrian Wojnarowski of The Vertical reports.

The official release from the NBA reads as follows:

NEW YORK – The NBA and NBPA have reached a tentative agreement on a new Collective Bargaining Agreement, pending ratification by players and team owners.

In order to give both sides enough time to review the terms of the agreement and vote to ratify, the parties have agreed to extend the mutual deadline to opt out of the existing CBA from Dec. 15, 2016, to Jan. 13, 2017.

Specific terms will be made available at a later date.

We will share more information as it becomes available, but fans of NBA basketball can rejoice knowing that it appears as though a lockout has been avoided.

Beyond the whole “watching basketball” thing that we all know and love, this also means that those who rely on the NBA for income will be paid.