The NBA and the National Basketball Players Association announced Friday an agreement to push back the notification deadline to Nov. 6 to opt out of the current collective bargaining agreement.
The deadline had initially been Friday, but talks are reportedly ongoing between the two sides regarding a 2020-21 season plan.
It was reported this week the NBA would like to start a new 72-game season in December to recoup the TV money from its traditional Christmas Day schedule. Several players reportedly would prefer beginning the new campaign in January.
The idea of playing a schedule with less than 72 games in a potential January start hasn't been raised, sources told ESPN's Adrian Wojnarowski, who also reports there is "still a gulf" between the sides on a start date.
The NBA fears that delaying the start of the season until January could cost the league between $500 million and $1 billion in revenue losses next season and beyond, sources told Wojnarowski.
Starting the 2020-21 season in December would result in an offseason of just over two months and a hectic free agency period, which wouldn't likely commence until after the Nov. 18 draft.
If either side provides notice by Nov. 6, the existing CBA will terminate by Dec. 14.