NBA Free Agency starts next week
On November 20 at 6pm ET NBA free agency will begin and signings will start to take place on November 22 at 12pm ET, giving all 30 teams just over a month to finalise their roster before the season opener on December 22.
Two days after the NBA draft free agency will begin.
The National Basketball Association, beyond agreeing to those proposed dates, also agreed that salary reductions will be spread across this upcoming season and potentially the following two years to account for the $1.5 billion the league lost in 2020 due to the coronavirus pandemic.
The $1.5 billion in reduction in revenue stems from losses in gate revenue ($800 million), sponsorships ($400 million) and the fallout with China after former Houston Rockets general manager, Daryl Morey, tweeted support for the Hong Kong protesters during the preseason ($200 million).
The maximum salary reduction in any season will be at 20%.
Because of the depleted revenue, the NBA finalised the 2020-21 season’s salary cap at $109.140 million and the luxury tax threshold at $132.627 million.