After extending their mutual opt-out deadline, the NBA and its players association are reportedly making significant progress on a new collective bargaining agreement.
The two parties have a March 31 deadline to either reach a new agreement, have one side opt out, or extend the process again. Their current seven-year CBA expires after the 2023-24 season.
The NBPA has informed the NBA it intends to complete a deal in March, according to The Athletic.
“We want to finish this deal soon and certainly want this wrapped up before the (March 31) deadline,” one source told The Athletic. “It’s close — we need to dot the I’s and cross the T’s.”
The pair are negotiating new luxury-tax tiers and rates. The tax rate is currently $1.50 for every dollar between $0 and $4,999,999 over the cap and $1.75 for every dollar between $5 million and $9,999,999 over the cap.
They’re also discussing lowering the age eligibility for the draft to 18 years old, with the union reportedly pushing “for conditions that would facilitate veteran players providing tutelage and orientation to the high schoolers entering the league,” according to The Athletic.
Other topics of discussion include increasing contract extension limits and adjusting the process of how the salary cap rises.