NBA, Player's Union Reach Tenative Agreement

DigitalVision/Thinkstock(NEW YORK) — The National Basketball Association and the National Basketball Players Association announced Wednesday that they have reached a tentative agreement on a new collective bargaining agreement, ESPN reports.

The deal is pending ratification by the league’s players and team owners.

The league and the union have agreed to extend their mutual deadline to opt out of the existing CBA,  in order to give them time to review terms and hold the votes to ratify the 7 year deal.

The joint statement stated that specific terms would be released at a later time, according to ESPN.

Copyright © 2016, ABC Radio. All rights reserved.