JABAR EKSPRES – The NBA and the players union organization (players union), Wednesday (6/28), said that a new collective bargaining agreement had been signed by both parties, before the start of the free agent phase, Friday (6/30), AFP reported.
The league operator and the players ratified the seven-year deal in April, and it will become effective on Saturday.
The deal is expected to last until the 2029/2030 season, but both parties can resign early. However, they must declare their intention no later than October 15, 2028.
The two sides had agreed on the principles of the new deal on April 1, when the league was preparing to cancel the current collective bargaining agreement.
On the same day, the NBA said that the long version of the contract had been finalized, signed, and shared.
The deal includes new penalties for teams that spend heavily beyond the salary cap, and the application of cup-style tournaments like those played by European soccer clubs.
Restrictions on marijuana use, now legal in some US states, have been relaxed and the new deal clarifies that players can invest in marijuana companies as well as sports gambling companies.
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