The fourth stage of the achieving a new NBA Collective Bargaining Agreement is complete:
4. Ratification by the other
The new Collective Bargaining Agreement was ratified this week by the NBA players and NBA Board of Governors. The new agreement will take effect on July 1, 2017 and run through the 2023-24 season.
The parties voted based on a term sheet that outline the key deal points. Once the NBA and NBPA finish drafting and execute the complete agreement, specific details will be released.
This was all but inevitable. The hard work was finding a deal satisfactory to both owners and players. In that process, neither side was going to craft a term sheet its constituents would reject.
Now, it’s time for the lawyers to rack up the billable hours as they turn the term sheet into the actual CBA, a complex legal document.