NBA lockout over! (reportedly)

I got as much money for the league as I possibly could, while at the same time, starting the season on Christmas Day, one of the league's most popular draws, which will effectively help the hordes of angry fans forget that they missed any games at all. Not too bad...
(REUTERS / Lucas Jackson)

Finally, after what's seemed like forever, the NBA and it's players have come to an agreement on a new Collective Bargaining Agreement. Nothing is official yet, as both sides still have minor issues to figure out, but boy does it feel good to have some actual basketball to talk about now.The season is set to begin on Dec. 25 with a triple header that includes Boston vs. NY, Miami vs. Dallas, and Chicago vs. the Lakers. Free agency and training camp will begin on December 9. Most free agent signings are expected to take place quickly. The players have sure had long enough to think about where they might end up. The season will last 66 games, as opposed to the usual 82 games.

 Details of the agreement can be found here, courtesy of NBA.com writer Steve Aschburner.

A few highlights of the new deal and how they affect us, the fans:

1. Salary matching for trades has been lessened. This should enable trades that otherwise could not have happened before, which will lead to more trading.

2. When signing a free agent, teams can offer up to four years for a contract with a maximum yearly increase of 4.5% . When re-signing their own free agents, teams can offer up to five years with a maximum yearly increase of 7.5%. This is intended to help teams retain their free agents.

3. The extend and trade (a la Carmelo Anthony) has been kept in the agreement, despite the owners having removed it from the previous offer. This will ensure that ESPN can shove as much Dwight Howard/Chris Paul trade talk as is humanly possible down our throats. Joy.

4. The Amnesty Clause is included in the deal, much to the delight of New Jersey Nets fans everywhere (Oh, hello Travis Outlaw). This clause allows teams to eliminate one contract off of their books on a one time basis.

5. The agreement is for 10 years with an opt out available after 6 years. Mark your calendars for the next lockout accordingly.