The NBA and its players agreed Friday to extend the collective bargaining deadline by one week until November 6, and discussions on the many issues that need to be decided before the start of next season will continue in the interim. The salary cap will be set at $109.1 million and the luxury tax will be $132.6 million — the same figures as in the 2019/20 season, before the league`s finances suffered a drastic blow as a result of the continuation of the COVID-19 pandemic. Teams had been expecting the two figures to remain the same for some time next season, as it was better for teams and players to avoid a massive pay cap cut for next season, as revenues unexpectedly decline. As a result of the agreement, the free agency will begin at 18:00 Eastern Time on Friday 20 November, less than 48 hours after the 18 November draft. After a brief moratorium, signatures are officially authorized from Sunday, November 22 at 12:01 p.m. The NBA Collective Bargaining Agreement (CBA) is a contract between the National Basketball Association (the commissioner and the 30 team owners) and the National Basketball Players Association, the players` union, which imposes rules on player contracts, trades, sales distribution, the NBA draft and the salary cap. In June 2005, the NBA CBA ended, which meant that the league and the players` union had to negotiate a new contract; In light of the NHL`s 2004/2005 blockade, the two sides quickly reached an agreement and ratified a new CBA in July 2005. That contract expired after the 2010/11 season, which led to the NBA`s ban in 2011. In December 2011, a new CBA was ratified, ending the lockout.  The NBA and NBPA are extending the deadline from today to Monday so that both parties can be informed of the termination of the collective agreement, sources @TheAthleticNBA @Stadium reported.
The parties will continue to work to finalize the CBA`s problems. December 21 will be the last day for players to sign super max and rookie extensions, Marks tweeted. This delay is particularly important in Milwaukee, where the Bucks hope to reach a long-term agreement with Giannis Antetokounmpo. The length of the next season is also worrying, as next summer is an Olympic summer. Olympic qualifiers for 24 nations seeking one of the four remaining basketball courts for Tokyo will continue on June 29, 2021 with the opening of the Tokyo Games on July 23, 2021. The longer the next NBA season, the more difficult it would be for NBA players to commit to their national team.