The NBA and its players announced on Wednesday the signing by both parties of a new collective agreement running until the 2029-30 season and which will take effect from the summer transfer window. The seven-year agreement, already validated in April, will come into force on Saturday, the day after the opening of the “free agency”, a large summer transfer market.
No lockout like in 2011
Each side may, however, break the contract one year before its term, but must declare themselves no later than October 15, 2028. The NBA indicated that the “long version” of the contract had been finalized, signed and distributed.
These negotiations are always a key step, since a failure of the discussions between the league and its players can lead to a blocking of the competition (“lock out”), as was the case in 2011. The new agreement provides in particular for unprecedented fines for franchises that do not respect salary limits (“salary cap”), and the establishment of a tournament during the season, similar to cups in football.
Restrictions on the use of marijuana, legal in several US states, will be relaxed. The text also lays out the rules that players must follow if they wish to invest in a company that markets cannabis, or organizes sports betting.
Original article published on RMC Sport
2023-06-29 04:06:14
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