In order to give both sides enough time to review the terms of the agreement and vote to ratify, the parties have agreed to extend the mutual deadline to opt out of the existing CBA from Dec. 15, 2016, to Jan. 13, 2017.
Specific terms will be made available at a later date.
Of note, the new CBA, once ratified, will shorten the NBA's preseason in the interest of beginning the regular season one week earlier beginning 2017-18, according to reports.
Another point of discussion was whether to continue with the league's one-and-done rule for incoming players. The sides reportedly decided to table the issue for a later date, so current rules will remain unchanged for now.