Adrian Wojnarowski confirms NBA and NBPA have signed a new seven-year contract

The NBA and NBPA have agreed to sign a new seven-year collective bargaining agreement, as per ESPN's Adrian Wojnarowski.

That means the rest of the 2020s is set between the league and the players' union. The new CBA will have a mutual opt-out after the sixth year and will start in the 2023-24 season, which is when the current CBA is scheduled to end.

Both sides initially agreed to extend Friday's early opt-out deadline before a new deal was reached. Wojnarowski reported earlier that a new deal was imminent. The league confirmed the new deal early Saturday, with the NBA governors and players expected to ratify it in the next few weeks.

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Details of the new CBA between the NBA and Players Association

NBA commissioner Adam Silver and Jaylen Brown

Some of the details regarding the new collective bargaining agreement have been released by ESPN's Adrian Wojnarowski. Here are some of the new provisions from the latest CBA:

1. The NBA will look to bring back parity among teams. High-spending teams such will have a second salary cap apron of around $17.5 million above the luxury tax line. Teams who will go over the second salary cap apron can no longer use the taxplayer mid-level during free agency.

2. Load management has been an issue in the league over the past few seasons. Fans are starting to become unhappy with players sitting out even if they're not injured. The new CBA now has a mandotory of 65 games played for stars who want to win major individual awards towards the end of the season.

3. The NBA will introduce a new in-season tournament that will likely start next season. It will be played in November and "cup games" will be included in the 82-game regular season. Eight teams will advance to the knockout stages, while the two finalists will have an extra regular season game on their schedule.

4. All-Star players would benefit with the new rule regarding upper limits on extensions. The new CBA is now at 140% compared to the last deal's 120% increase. Some of the players expected to benefit from the new provision include Jaylen Brown of the Boston Celtics and Domantas Sabonis of the Sacramento Kings.

5. Teams now have an additional two-way contract slots, from two to three. Two-way contracts have been a success, especially for teams with a knack of finding hidden gems from undrafted free agents and the G League.

6. In what could be great news for players such as Kevin Durant, the use of marijuana is no longer prohibited under the new CBA. The drug was already removed from the league's testing program in 2019, but it seems there won't be any restrictions moving forward.