The NBA Board of Governors and the National Basketball Players Association have officially ratified the new Collective Bargaining Agreement, the league announced (via Twitter).
The new CBA will take effect on July 1 and will last seven years, running through the 2029/30 season, per the NBA.
As Blake Murphy of Sportsnet.ca notes (via Twitter), while the CBA technically kicks in at the start of July, certain changes in the new agreement will be phased in over the next few years. Perhaps most notably on that front is the implementation of a second tax apron, which will penalize teams that are $17.5MM above the luxury tax threshold in the future.
There are lots of major alterations in the new CBA, which was tentatively agreed to on April 1. Our running list of the reported changes can be found right here.
A slew of stretch and waives are on the way starting July 7th. It’s going to be a super fun summer leauge for me.