National Basketball Association and players agree to 72-game season

National Basketball Association and players agree to 72-game season

An NBA sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020.

Additionally, free agent negotiations can begin on november 20, with signings beginning on november 22.

The NBA's board of governors formally approved a deal for a shortened 2020-2021 season on Tuesday, with the new campaign tipping off on December 22.

"Additional details remain to be negotiated and the NBPA is confident that the parties will reach agreement on these remaining issues relevant to the upcoming season", the NBPA said in a statement.

The announcement that came on Monday late night, detailed some of the plans for the upcoming 72-game season that is set to begin December 22. Most notably, team owners didn't get their way as they tried to convince players to put 25% of their salaries in escrow, suggested as a way to mitigate any further COVID-19 outbreaks, and had to settle for the usual 10%. The luxury tax will be set at $132.63 million, with 3%-10% increases to both the cap and luxury-tax threshold on an annual basis until the current CBA expires in 2024.

Among the new items agreed to is that free agent negotiations will begin on November 20 at 6 p.m. ET, and signings can take place starting at 12:01 a.m. ET on November 22.

Starting in December also allows the league to complete the playoffs before the rescheduled Olympics in mid-July, meaning the league's top players will be available for selection in Tokyo. This is two months later than an National Basketball Association season would normally start but, since the previous season only wrapped up on October 12, there was no chance of seeing things get going on a normal schedule. The Los Angeles Lakers won the championship on Oct 11 - four months later than the season typically ends.

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