The NBA and the National Basketball Players Association agreed Monday to once again extend the deadline to opt out of the current collective bargaining agreement.

The deadline was approaching this Wednesday, Feb. 8, but that date has been pushed back to March 31.

“The NBA and NBPA have mutually agreed to extend the deadline to opt out of the current Collective Bargaining Agreement (CBA) from Feb. 8, 2023, to March 31, 2023, as the two sides continue negotiations to reach a new agreement,” the league and the players union said in a joint statement. “If either party exercises the opt-out, the CBA’s term will conclude on June 30, 2023.”

If neither party opts out, the current seven-year CBA is due to expire following the 2023-24 season.

ESPN reported that both sides believe there’s enough common ground in discussions thus far to keep trying for an early labor deal and hopefully avoid the uncertainty that would result from declaring an opt-out.

If the opt-out is executed by either side and a new deal isn’t reached, it could result in a work stoppage in advance of next season.

The sides have been engaged in talks, including the NBA’s desire to install a hard salary ceiling and do away with the current luxury tax that is being exploited by a handful of teams.

However, talks about the upper spending limits were not received well by the union, per ESPN, which wants to create more opportunities for middle- and lower-spending teams to sign players, too.

Additionally, economic concerns — including the potential bankruptcy of the Sinclair/Diamond Sports Regional Sports Networks, which broadcasts games of 16 teams on local deals — are looming. These issues could make ownership take harder-line positions on financial issues, potentially making it more difficult to address the desire of smaller-market teams to rein in the spending of franchises such as the Golden State Warriors, Los Angeles Clippers and Brooklyn Nets, per the report.

–Field Level Media