Upon tentatively agreeing on a new labor deal that will put the NBA players back to work in December, the NBA circulated a series of memos outlining the specifics of the new labor deal.
Here are those specifics by way of Adrian Wojnarowski of Yahoo! Sports…
• Revenue split: The players will receive anywhere from 49 percent to 51 percent of basketball-related income based on revenue projections.
• Maximum contract lengths: five years for Larry Bird rights players; four years for non-Bird players.
• Maximum salary: One player per team is eligible to receive a maximum salary worth 30 percent of the salary cap. Players with less than six years experience can receive maximum salary worth 25 percent of the cap.
• Midlevel exception: up to $5 million starting salary with four-year maximum contract length; teams that exceed the luxury-tax threshold by $4 million will be limited to using a $3 million midlevel exception with a three-year maximum contract.
• New $2.5 million exception for teams below the salary cap to go over the cap. Those teams can’t use the midlevel or bi-annual exceptions.
• No reduction in rookie scale or minimum salaries.
• Extend-and-trade contracts similar to the one Carmelo Anthony received prior to his trade from the Denver Nuggets to the New York Knicks last season will continue to be permitted.
• Escrow pool: Ten percent of player salaries will be held each year.
• Teams now have three days to match offer sheets given to their own restricted free agents.
• Minimum team salary increases to 85 percent of the salary cap in the first two years of the deal and 90 percent of the cap in the years thereafter.
• Each team has one amnesty clause to use on a player currently under contract. The players’ salary will be removed from the team’s cap.
Ref: Yahoo! Sports, NBA.com (image)