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The NBA Is Back! Owners And Players Finally Reach A Deal

| Filed under: Legal MattersBusiness BlitzBasketball

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It's about time!

The NBA and the Players Association has finally reached a deal, ending the five-month lockout.

After 16 hours of negotiations on Friday, both sides reached an agreement and shook hands a little after 3 am ET.

Players will vote no later than the middle of next week. Both sides must still get a majority vote from the 29 owners and 450 players to finalize the agreement.

NBA commissioner David Stern said:

"The reason for the settlement was we’ve got fans, we’ve got players who would like to play and we’ve got others who are dependent on us. And it’s always been our goal to reach a deal that was fair to both sides and get us playing as soon as possible, but that took a little time."

The delayed 2011-2012 season will FINALLY start Dec. 25.

Merry Christmas!

[Image via WENN.]

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