There have been amnesty clauses in the last two CBAs, allowing teams to waive players and have their salaries removed from the salary cap. This move would potentially deal a blow to the Miami Heat as they look for a solution to Chris Bosh, who is owed $75 million over the next three years.
The sides have made progress on several other key issues including contract extensions, restricted free agency and qualifying offers, according to sources. Under the new deal, players are expected to be able to sign contract extensions two years after the date of their original signing. Currently, they have to wait three years. Restricted free agents also will be able to agree to offer sheets with teams starting on July 1 instead of waiting until July 7. The window for teams to match these offer sheets will be reduced from 72 hours to 48 hours. Also, teams will no longer be able to pull qualifying offers to restricted free agents as is currently allowed before July 31.
The NBA’s 30-something stars – including NBPA president Chris Paul, vice president LeBron James and executive committee member Carmelo Anthony – will benefit from the changing of the 36-and-over rule that now prohibits players from signing a five-year maximum contract if their 36th birthday occurs within the life of the deal. The NBA and union have tentatively agreed to change the rule to over 38, league sources told The Vertical, which would have significant financial implications for superstars in the twilight of their careers.
Among the principles in agreement, the NBA’s Basketball Related Income (BRI) split will remain unchanged in a new agreement, league sources said. The players receive a share in the range of 49 to 51 percent of the current BRI.
The NBA will raise rookie-scale, veteran minimum and free-agent exception deals in the new agreement, league sources said. Rises in those salaries could come in the 50 percent range over current numbers, sources said.