Friday December 23rd, 2016

The NBA’s players have ratified the league’s new collective bargaining agreement, making the terms official.

USA Today’s Jeff Zillgitt first reported the news.

The league’s owners unanimously ratified the deal earlier this week. Both sides had until Jan. 13 to do so, after terms were agreed upon earlier this month. The ratification process was viewed as a formality after negotiations came to an end. The document has yet to be fully drafted out.

The new deal averts a possible 2017 lockout and runs through the 2023–24 season, with a mutual opt-out available in 2022.

Sources informed Sports Illustrated of a number of key details of the new agreement, including leaguewide salary increases, added roster spots, a more favorable schedule with added rest days and improved benefits for retired players.

SI’s legal expert Michael McCann broke it all down here.

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