New York, November 10: The NBA and the National Basketball Players Association (NBPA) have reached an agreement on the start of the 2020-21 season, as well as adjustments to certain provisions of the current collective bargaining agreement impacted by the COVID-19 outbreak. The agreement is subject to a vote by the league's Board of Governors.

The 2020-21 season will begin on December 22. The 2020-21 season will feature each team playing a 72-game schedule. The full regular-season and broadcast schedules will be released at a future date.

"A new system will be used to ensure the parties' agreed-upon split of basketball-related income (BRI). In the event player compensation were to exceed the players' designated share in any season, necessary salary reductions beyond the standard 10 percent escrow would be spread across that season and potentially the following two seasons, subject to a maximum salary reduction in any season of 20 per cent," read an NBA release. Also Read | Did You Know Delhi Capitals Lost to Mumbai Indians Thrice This Season? Ahead of MI vs DC IPL 2020 Final, Check Details of Their Previous Meetings.

"For the 2020-21 season, the Salary Cap will be USD 109.140 million and the Tax Level will be USD 132.627 million. In subsequent seasons of the CBA, the Salary Cap and Tax Level will increase by a minimum of three percent and a maximum of 10 percent over the prior season. Teams' Tax payments will be reduced in proportion to any BRI decreases," it added. Free-agent negotiations will begin on November 20 with signings starting on November 22.

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