As expected, the players and owners voted to ratify the collective bargaining agreement Thursday ensuring that free agency, training camps, and the season will all start according to the recently revised schedule.
The vote was held Thursday after the two sides navigated through the final points of contention on Wednesday. Approximately half of the league’s 400 players participated in the vote via electronic ballot and 86% of those players approved the deal. 25 of 30 NBA owners also elected to approve the deal. Only a simple majority was needed from each group.
In addition to the CBA, the league announced a new revenue sharing arrangement which will almost quadruple the previous dollar amount being shared. The new revenue sharing plan will go into effect for the 2013-2014 season.