Report: NBA, players' union could finalize new CBA in coming weeks

In all likelihood there will be no lockout this summer as there was in 2011.

There is strong optimism from officials on the NBA and NBA players association that a new Collective Bargaining Agreement can be struck in the next several weeks, sources told Adrian Wojnarowski of The Vertical Thursday.

The two sides can exercise an opt-out clause of their current 10-year deal by Dec. 15, but a new agreement is expected to be reached before that deadline.

Wojnarowski adds that most of the significant issues have been agreed upon, and that the remaining talks center around smaller elements of the next CBA.

With revenues projected to eclipse $8 billion for the upcoming season, the NBA is in a tremendous financial situation. In 2011, owners griped about the profitability of the league.

With the league reaching a new $24-billion national broadcast deal, and with franchises like the Los Angeles Clippers selling for $2 billion, the NBA is in tremendous financial standing and neither side, it appears, wants to rock the boat.