News from September 15

The NBA Board of Governors approved the new Collective Bargaining
Agreement by a vote of 24-5.  Since the vote was conducted via
telex, 21 votes for the proposed CBA was needed for ratification.
With both the NBA and Players Assocation ratifying the CBA, it
passes and will be in place for the next 3 to 6 years (the NBA
can reopen negotiations after 3 years if the salary expenditures 
exceed a certain amount of revenue).  The NBA has sent copies
of the CBA to the teams and updated salary lists.  The lockout
will be lifted Monday at 12 noon Eastern Time.