NBA, players ratify new collective bargaining deal

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NBA Commissioner David Stern announced Thursday that the owners and players ratified a new collective bargaining agreement Thursday, the final steps to ending the lockout that began July 1.

Teams will open training camp Friday and the free-agency period for the 2011-12 season also begins then, at 11 a.m. PST.

The two sides agreed to a 10-year deal, with an opt-out after six years.

Part of the agreement calls for a 50-50 split of basketball-related income. The players had a 57% split in the last CBA.

The deal also stipulates that there will be a higher luxury tax with progressive tax rates, and a soft salary cap remains.

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-- Broderick Turner