NBA - Tentative agreement reached to end lockout

NEW YORK (NBA) - The NBA lockout may be about to end with representatives of team owners and players having reached a tentative agreement to start the season.

The handshake deal still must be approved by the majority of owners, and players.

The announcement that a season is expected to get underway on Christmas Day (25 December) was made in the early morning hours of Saturday in New York after 15 hours of talks.

"We resolved, despite some even bumps this evening, that the greater good required us to knock ourselves out and come to this tentative understanding," said Stern.

“We’re optimistic that the [agreement] will hold and we’ll have ourselves an NBA season."

While no specifics have been revealed, part of the agreement is understood to stipulate a 50-50 split of Basketball Related Income.

Players had received 57% under the old Collective Bargaining Agreement (CBA).

The lockout has been in place since July 1, following the expiration of the old CBA.

Stern is to meet with the NBA’s labor committee on Saturday and expects the plan to then be presented to the full board.

The players, meanwhile, must first drop their anti-trust litigation and reform the union before having a vote on the deal.

If ratified, training camps are to begin on December 9.

FIBA