The NBA and the National Basketball Players Association agreed to extend the deadline for either party to opt out of the current collective bargaining agreement, sources told ESPN's Adrian Wojnarowski.
The sides reportedly now have until Oct. 30 to give 45 days' notice to the other party that they're ending the labor agreement. However, Wojnarowski reports there's optimism a new deal will be in place prior to the 2020 draft, scheduled for Nov. 18.
The NBA faced a significant downturn in revenue for the 2019-20 season due to the COVID-19 pandemic's impact and a preseason controversy affecting business relationships in China. The challenges have also put the league's upcoming calendar in flux.
Chief among concerns is the 2020-21 salary cap, which is tied to basketball-related income. NBPA director Michele Roberts recently said she didn't think the league should "deviate much" from its original cap projection of close to $116 million, which would allow for an offseason to stay business as usual as the league positions itself for the future.