ToplineThe NBA and the National Basketball Players Association announced Tuesday that they have reached an agreement in principle to start the 2020-21 season on December 22 and to adjust specific provisions of the current collective bargaining agreement impacted by the coronavirus pandemic. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Kevin C. Cox/Getty Images) Getty ImagesKey FactsAccording to a press release issued by the league and the players union, a new system will be used to ensure the parties’ agreed-upon split of basketball-related income. In subsequent seasons of the collective bargaining agreement, the salary cap and tax level will increase by a minimum of 3% and a maximum of 10% over the prior season. Further Reading:NBA 2020 Free Agent Rankings: Carmelo Anthony, Kris Dunn And The Fifth Tier (Forbes)NBA Season Set To Begin Before Christmas (Forbes)NBA, NBPA agree on 2020-21 season start and adjustments to CBA (NBA.com)

Source: Forbes November 10, 2020 15:00 UTC