Clad in a sweater and open-collar shirt and sporting a well-weathered countenance, Stern announced at the press gathering,

We have reached a tentative understanding that is subject to a variety of approvals and very complex machinations, but we are optimistic that that will all come to pass and that the NBA season will begin December 25 / Christmas Day with a tripleheader. But I won’t give you the details to tune in yet. We are very pleased that we have come this far.  There is a lot of work left to be done… We are optimistic that it will hold and that there will be an NBA season.

The work that remains includes getting a simple majority of the 30 teams and the 400-something players to agree upon the deal.  The framework of the deal includes a 50/50 split of basketball revenue, though it is technically a split that lies in a band between 49 and 51 percent.  The deal is slated to last 10 years, though each side will have the option of end the deal upon completion of the sixth year.

Over the next week, players will need to re-form their union before ratifying the agreement, but in the meantime, the lawyers from both sides are expected to hammer out the details and teams can begin the process of planning the short-term schedules necessary to have their squads ready in a month’s time.

According to Steve Aschburner of NBA.com, the two sides were finally able to agree upon the A-list issues that had plagued them throughout the 149-day lockout.  According to Aschburner, the compromises include:  (more…)

– David Stern, earlier this afternoon on ESPN’s SportsCenter

______________________________________________

The NBA and its players took a huge step apart today as the players’ union filed a disclaimer of interest with the aim of taking the NBA to court.  (more…)