NBA Board of Governors approve amended collective bargaining agreement
Free-agency negotiations for the coming season will begin at 6 p.m. Nov. 20. Free-agent contracts can be signed starting at 12:01 a.m. on Nov. 22.
The NBA Board of Governors unanimously approved adjustments to the collective bargaining agreement on Tuesday.
The league, however, is still negotiating with the National Basketball Players Association on other things pertaining to the 2020-21 season. This comes after both sides announced early Tuesday morning that salary cap for the coming season would remain at its current $109.1 million because of lost revenue due to the coronavirus pandemic. The same thing happened to this past season’s luxury-tax threshold of $132.6 million.
Meanwhile, free-agency negotiations for the coming season will begin at 6 p.m. Nov. 20. Free-agent contracts can be signed starting at 12:01 a.m. on Nov. 22.
Those were among the agreements and adjustments that the league and the players association announced early Tuesday regarding the 2020-21 season. The decisions were subject to the expected Board of Governors approval.
In addition to the salary cap, the parties announced they will use a new system for the agreed-upon split of basketball-related income. If players' compensation exceeds their designated share in any season, salary reductions beyond the standard 10% escrow would be spread across that season and possibly the following two campaigns. It would be subject to a maximum reduction of 20% in any season.
The virtual NBA draft is set for Nov. 18. Training camp will begin on Dec. 1, and the 72-game 2020-21 season will begin on Dec. 22.
The Sixers won’t have the cap space to add high-profile free agents like last year. That’s because they have almost $122 million tied up in four players alone: Tobias Harris ($34.3 million), Ben Simmons ($30.5 million), Joel Embiid ($29.5 million) and Al Horford ($27.5 million). At the conclusion of last season, the Sixers had more than $145 million guaranteed going to nine players in 2020-21. As a result, the Sixers ownership group will pay a luxury tax.
For now, the cap remains the same as last season. However, in the following seasons of the collective bargaining agreement, the salary cap and tax level will increase 3-10% over the prior season. Teams' tax payment will be reduced if basketball-related income decreases.