The NBA and the NBPA are hammering away at the next Collective Bargaining Agreement deal, hoping to have it ratified before the December 15 opt out date.

The deal is said to extend as long as seven years beginning in the 2017-18 season, in the event neither party chooses to opt out in 2022.

Both sides are currently looking to complete the new deal within weeks, and are said to be close to finalizing their terms.

The current deal, which is set for 10 years, calls for the basketball related income (BRI) to be split 50-50 between players and owners.

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The new deal will keep that same provision in place, but the income has increased because of the league’s new television deal that kicked in this summer.

League revenue is projected at $102 million this season is expected to take a jump to $103 million, and everyone involved in the talks remains optimistic because they all benefit from it.

Once the smaller provisions are agreed upon, the deal can be quickly pushed through.