NBA, players ratify new collective bargaining deal
NBA Commissioner David Stern announced Thursday that the owners and players ratified a new collective bargaining agreement Thursday, the final steps to ending the lockout that began July 1.
Teams will open training camp Friday and the free-agency period for the 2011-12 season also begins then, at 11 a.m. PST.
The two sides agreed to a 10-year deal, with an opt-out after six years.
Part of the agreement calls for a 50-50 split of basketball-related income. The players had a 57% split in the last CBA.
The deal also stipulates that there will be a higher luxury tax with progressive tax rates, and a soft salary cap remains.
-- Broderick Turner
Photo: NBA Commissioner David Stern, right, and Deputy Commissioner Adam Silver discuss with the media the ratification of the NBA collective bargaining agreement. Credit: John Minchillo / Associated Press