Everyone has a little something to smile about today; the NBA and the Union have reached a tentative deal that would end the lockout and start basketball on Christmas Day

BREAKING: NBA Lockout Over; Season to Start Dec. 25th

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NEW YORK — If you filled up on turkey this Thanksgiving, ake room for another feast: a feast of NBA games coming to a court near you.

Sources out of New York are reporting that a tentative deal has been reached between the NBA Owners and the NBA Union that would end the 148 day lockout that has wiped a month off the schedule and sent millions of fans into denial and depression.

The NBA is planning on opening camps on December 9th with a 66-game season planned for 2011-12. More importantly, we will have basketball on Christmas which was initially feared to be off the table in terms of options. Not only will we have the NBA on Christmas Day, that is the official start to the 2011-12 season.

“We thought it was in both of our best interests to try to reach a resolution and save the game,” union executive director Billy Hunter said.

The big deal breaker thus far had been the split on the revenue. The players wanted at least 52 percent and the owners weren’t having any of that. The two sides have settled on a number and the new CBA is going to a vote. The new deal features a 50-50 split, a deal that was rejected earlier when proposed. The new deal also features shorter contracts, smaller raises and harsher penalties on the top-spending teams. It is also a 10-year agreement, the longest ever in the history of the league.  The Lockout isn’t officially over yet but it is the closest it has been since the start.

What’s in the new Deal

  • 10-year Agreement
  • 50-50 Revenue Split
  • Shorter Player Contracts
  • Smaller Raises
  • Harsher Penalties on To-Spending Teams
  • Either Side Can Opt Out After Six Years

A majority is needed from both the owners and the Union to ratify the new deal. 15 of the 29 NBA owners are needed and a simple majority of the unions 430-plus members is needed and we can officially say basketball is back.

Before anything can go to vote however, the lawsuit in Minnesota must be dropped. This hasn’t happened yet but the courts are closed for the Holiday weekend. It can be assumed that withdrawal will be processed Monday and the vote will occur not too soon after that.

The bottom line is that the NBA is back folks — book it. Now we can finally throw away those ‘The Legal System fo Dummies’ books and get started on those pre-season outlooks.

Ahhh it wasn’t that Black of a Friday after all. In fact, to quote Ice Cube himself, Today was a Good Day.

 

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