League, players reach tentative new labor agreement
The National Basketball Association (NBA) and union representing its players have reached a tentative deal on a new collective bargaining agreement, the two sides said on Wednesday. In order to give each side enough time to review the deal, the NBA and NBA Players Association agreed to extend its mutual deadline to opt out of the existing CBA, which was Thursday at 11:59 p.m. ET (0459 GMT), to Jan. 13.
Source: http://news.yahoo.com/players-owners-reach-tentative-agreement-cba-004412231–nba.html