NEW YORK – The NBA and NBPA have reached a tentative agreement on a new Collective Bargaining Agreement, pending ratification by players and team owners.

In order to give both sides enough time to review the terms of the agreement and vote to ratify, the parties have agreed to extend the mutual deadline to opt out of the existing CBA from Dec. 15, 2016, to Jan. 13, 2017.

Specific terms will be made available at a later date.