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NBA labor deal officially approved, camps set to open

Dec 9, 2011, 8:18 AM EST

NBA And Players Representatives Meet To Discuss Possible Settlement Getty Images

In all the excitement over Chris Paul going to the Lakers Chris Paul staying with the New Orleans Hornets, one little thing happened on Thursday not many people noticed:

The players and owners approved the new NBA labor deal. It is in place and training camps are set to open Friday (even if not everyone is going to show up).

“I am pleased to announce that we have concluded the collective bargaining process and have reached an agreement that addresses many significant issues that were challenges to our league,” said NBA Commissioner David Stern in a released statement. “This collective bargaining agreement will help us move toward a better business model, a more competitive league and better alignment between compensation and performance.”

Just as a reminder, here are your highlights:

• This is a 10-year deal but both sides can opt out after six.

• League revenues (basketball related income) will be split 50/50 between owners and players (well, after the owners take a few hundred million off the top for “expenses,” with the players able to get up to 51 percent of the BRI if the league exceeds projections. This will save owners about $300 million a year compared to the old labor deal.

• There is a soft salary cap, however there are fewer exceptions that allow teams to exceed it than there were in the previous deal.

• Player contracts are up to four years if teams are signing a free agent, five years if teams are re-signing with the same team (Bird rights). Teams can also give larger raises when their ign their own.

• There will be a more stiff luxury tax for owners who exceed the tax threshold. However, it does not start for two years.

• There will be increased drug testing of players.

  1. charlutes - Dec 9, 2011 at 8:29 AM

    Joke league.

  2. zidanevalor - Dec 9, 2011 at 8:32 AM

    If the CP3 trade veto happened on Wednesday night, how high would the chances have been that the lockout would have started again?

  3. cjpunk15 - Dec 9, 2011 at 9:21 AM

    I better wake up today and have a notification on my iphone that this deal was re-evaluated and approved. If not I expect Paul to hold out until he’s holding a purple and gold #3 jersey at a press conference…LOL FU Stern

  4. dadawg77 - Dec 9, 2011 at 9:44 AM

    Does anyone think the Paul trade was called off in order to get enough votes for the CBA? I can see a slime ball like Gilbert pulling something like that. Makes sense in that privately Gilbert told Stern he wouldn’t have enough votes for the CBA if the Paul deal went through thus Stern agreed to kill the deal. That is why the NBA was letting Hornets look for the best trade because it didn’t have any plans to void it. When Gilbert started to moan about it, Stern voided the deal to save the season then leaked Dan’s email to make Gilbert look like the punk he is.

  5. acdc363 - Dec 9, 2011 at 10:09 AM

    So they didn’t change anything

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