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New York (AFP) – The NBA and its players union announced Wednesday that they have agreed to extend the deadline for reaching agreements in collective bargaining agreements until February 8, 2023.
The league and the National Basketball Players Association (NBPA) delayed the deadline “in connection with ongoing efforts to reach a new (working) agreement,” according to a joint statement.
The current seven-year contract will expire after the 2023-2024 NBA season.
If either party exercises the option to opt out of the current agreement, the contractual agreement will expire on June 30 of the following year.
That could set the stage for an NBA work stoppage next year.
The opt-out deadline is now moved to the eve of the NBA trade deadline for this season.
A major topic in the talks is reportedly the league’s desire for a stricter salary cap for teams.
The current model allows teams to pay luxury taxes for exceeding payroll caps.
Teams like the defending NBA champion Golden State Warriors, Los Angeles Clippers and Brooklyn Nets have taken advantage of loopholes to spend record sums on talent paychecks.
The players are hoping to maintain the current salary structure despite fears this could allow big-market clubs with larger revenue streams to have an advantage over smaller-market sides.
© 2022 AFP
