NBA players can expect a lot of new opportunities courtesy of the upcoming collective bargaining agreement, per The Athletic's Shams Charania.
Charania reports that active players will now be allowed to have equity stakes in NBA teams, which would make the league the first in North America to permit this practice.
Depending on how this feature is implemented, it could have major ramifications on player movement. At the very least, given the soaring valuation of NBA franchises, the move promises to be lucrative for players.
Charania also says the the NBA is now going to allow players to partner with sports betting companies. The Supreme Court struck down a federal law in 2018, opening the door for sports betting across the country.
While other countries such as Great Britain have tried to shield children from sports gambling by restricting their advertisements, making it illegal for public personalities to promote them for example, the U.S. has no such regulations, which opens up this big business opportunity to NBA players.
In conjunction with earlier reports that the NBA will stop drug testing for marijuana, this CBA also allows players to partner with cannabis companies.
The National Basketball Players Association tentatively agreed to this newest iteration of the CBA on Saturday. The seven-year deal, with a one-year early opt-out clause for either party, runs through the 2029-2030 season.
