NBA and players ratify new seven-year collective bargaining agreement

"The National Basketball Association and National Basketball Players Association announced today that the new Collective Bargaining Agreement has been ratified by the NBA Board of Governors and the NBA players," the league and union said in a statement.

"The seven-year agreement will take effect on July 1st, 2023, and run through the 2029/30 season."

The deal, which had been tentatively agreed upon on April 1st, allows either side to opt out of the final year and launch negotiations for a new agreement.

Earlier this month it was reported the contract includes a long-discussed in-season tournament, similar to cup competitions familiar in European football and to begin next season.

ESPN reported that pool play in the tournament would be "baked into the regular season schedule starting in November before the top eight move into a single elimination tournament".

Other notable points according to ESPN include a second "salary cap apron" that would further penalise teams that bust the salary cap, a bid to curb the highest-spending clubs including the Golden State Warriors and Los Angeles Clippers.

However, ESPN reported Wednesday, the deal includes changes to the luxury tax that offers more flexibility to lower spending teams.

In other changes, individual player awards such as Most Valuable Player will now have a 65-game minimum for eligibility.

And marijuana, now legal in many states will be formally removed from the league's drug testing program.

The NBA had, in fact, suspended random testing for marijuana in the 2020 Covid-protective "bubble" and had not since resumed it.