Well, we're one step closer to avoiding a lockout for the 2023 offseason. A few hours after Adam Silver's deadline, the NBA and the NBPA have officially agreed on the details on a new collective bargaining agreement (or CBA) for 2023 until 2029, per Marc Stein. There was a lot of good and hopeful news about negotiations between the two sides leading up to the deadline. Now, there's only a couple of steps needed before this is made official.

“The NBA and Players Association announced at 3 AM ET this morning that they have reached an agreement on a new CBA that begins next season, ensuring that free agency and summer league will begin on time in July and, in the larger picture, labor peace through at least 2028-29.”

It's worth noting that this does not mean that there's officially a new CBA in place for the next few years. The owners and the players themselves will need to ratify the details agreed upon by the NBA and the NBPA. Some might call for a change here and there. Then, there's the matter of actually writing the legal documents. At the very least, though, this is an encouraging sign for the future of basketball. We are one step closer to avoiding a dreaded lock-out.

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Some notable changes in this agreed-upon CBA are the implementation of an mid-season tournament, a hard requirement on games played for individual awards, and a new luxury-tax level. One of the biggest talking points was left out though: there are reportedly no new rules allowing high schoolers to enter the league.

We will keep you updated on any new information about the new CBA.