Details of Agreement
Schedule
- Free Agency Starts on or around December 9
- Training Camps Starts December 9
- Games begin on December 25
- Opening Day Games are Celtics Vs Knicks, Heat Vs Mavs, Bulls Vs Lakers
- 66 Game Season
BPI
- Players agree to 51-49 Split (ESPN Reports Players Receive 49% over 57%. Improved Profits Give 51%)
- High spending teams lose advantage
Salary Cap
- Owners must spend a percent of salary cap on team payroll in 1st 2 years (90 percent of cap in years 3 and on)
Luxury Tax
- Luxury Tax is harsher (Extreme Tax at 85 Million or Higher)
- No hard cap
- Up to a $4 to the Dollar Tax
Other Details
- Deal is valid for 10 years
- Both sides can opt out after year 6
Conclusion
- Owners won agreement per ESPN, Slam Dunk
- Agreement still pending, need to write the agreement out.
Further Talks
- Draft, Age Limit, Drug Testing will be discussed further tomorrow