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Report: NBA, NBPA working toward 7-year extension on CBA

Bob Donnan-USA TODAY Sports / Reuters

The NBA and National Basketball Players Association are currently working on a seven-year extension to the Collective Bargaining Agreement, according to The Vertical's Adrian Wojnarowski.

It would begin during the 2017-18 season and include a mutual opt-out option in six years.

This agreement would reportedly eliminate the threat of a league lockout through the 2023-24 season, unless the opt-out is exercised in 2022.

The current 10-year labor agreement has an opt-out date of Dec. 15, although completion of the new agreement will reportedly be completed in the coming weeks.

The major details have been all but finalized, with the two parties now reportedly working on minor notes and provisions.

Some bullet points surrounding the updated CBA include the annual mid-level exception rising from $5.6 million to approximately $8 million, a "significantly higher" rookie-contract scale, and two-way contracts with the NBA's D-League being integrated.

The NBA's Basketball Related Income will remain unchanged from the current 49-51 percent split with the players. The league will also maintain its "one-and-done" rule with college basketball, giving students the opportunity to become eligible for the draft after just one season with their collegiate program.

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