NBA players and the Board of Governors have ratified the new Collective Bargaining Agreement, according to a mutually released statement from the NBA and NBPA.
NEW YORK, Dec. 23, 2016 — The new Collective Bargaining Agreement was ratified this week by the NBA players and NBA Board of Governors. The new agreement will take effect on July 1, 2017, and run through the 2023-24 season.
The parties voted based on a term sheet that outline the key deal points. Once the NBA and NBPA finish drafting and execute the complete agreement, specific details will be released.
An NBA lockout will be avoided and a new agreement will not be necessary for the next seven years. As noted in the release, details will be available once the agreement is fully drafted.