Let’s all take a minute to say thank you to Adam Silver and Michele Roberts for making sure that there won’t be a lockout this summer.

The leaders of the NBA and the NBPA have officially come to terms on a brand new CBA that will run until at least the 2023-24 season.

USA Today’s Jeff Zillgitt detailed a few of the major points the two sides agreed on:

  • Basketball-related-income will remain a 50-50 split.
  • Individual salaries for veterans and rookies will increase.
  • Entry age for the Draft will remain at 19. American-born players must be at least a year removed from high school.
  • The preseason will be shortened to no more than six games.
  • The regular season will start earlier than the last week of October in an effort to reduce wear-and-tear on players.

There will be much more to come on the official details of the CBA as it kicks in during next summer.

h/t USA Today