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NBA: League, players reach financial agreement for 72-game 2020-21 season

(Reuters) - The National Basketball Association (NBA) and the players’ association (NBPA) have reached an agreement in principle on a collective bargaining agreement (CBA) for the 2020-21 season, which will begin on Dec. 22, they said.

The NBPA last week approved the date for the opening of the new season that will have a reduced 72-game schedule. After a meeting on Monday, it and the NBA said in a joint statement here the salary cap would be $109.140 million and tax level would be $132.627 million.

Both figures are unchanged from last season, U.S. media reported late on Monday.

“In subsequent seasons of the CBA, the salary cap and tax level will increase by a minimum of 3% and a maximum of 10% over the prior season,” the league and players’ union added.

“A new system will be used to ensure the parties’ agreed-upon split of basketball-related income (BRI).

“In the event player compensation were to exceed players’ designated share in any season, necessary salary reductions beyond the standard 10% escrow would be spread across that season and potentially the following two seasons, subject to a maximum salary reduction in any season of 20%.”

The agreement is subject to a vote by the league’s Board of Governors.

Free agent negotiations would begin on Nov. 20, two days after the draft, they said in the statement. Training camps are set to begin in early December.

The 2019-20 season was completed in October after a four-month delay due to the COVID-19 pandemic, with teams competing in a bio-secure bubble at Walt Disney World in Orlando.

The Los Angeles Lakers captured a record-tying 17th NBA Championship on Oct. 12 with a 106-93 victory over the Miami Heat that sealed the best-of-seven title series 4-2. [nL4N2H30MB]

Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Robert Birsel

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