The NBA and its players union said on Monday they have agreed upon terms for a 2020-21 season that will start December 22 as well as Covid-19-related contract changes.
The National Basketball Players Association and the league agreed on each team playing a 72-game schedule and a new deal for deciding basketball-related income.
The agreement, which NBA team owners must vote upon, would spread possible player salary reductions due to the pandemic to no more than 20% and that level spread over up to three seasons.
The league would be looking at billions of dollars in losses if spectators are not allowed to attend NBA games due to the coronavirus.
In the 2020-21 campaign, the salary cap level for clubs would be $109.140 million with a salary tax on clubs going above $132.627 million.
In future seasons, the salary cap and tax level would increase by 3-10% over the prior season, with tax payments trimmed in proportion to income decreases.
Free agency negotiations would start on November 20 with signings allowed starting on November 22.