NBA News Update: Players and league inching closer to agreeing on 22nd December as the restart date, 18% escrow cut expected in salaries

After an enthralling finish to the 2019/20 NBA season, which the LA Lakers won, the league is preparing to start the next campaign. Fans and players are both gearing up for the 2020/2021 season, and there have been some major developments in that direction in the past few hours. We will take a look at them in the latest edition of NBA news update.

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NBA News Update: NBPA and league to discuss next season's start, salary escrow for players

2020 NBA Finals - Game Six

Despite the coronavirus pandemic, the NBA was able to conduct the Orlando bubble last season in a safe environment. However, the league took a significant financial hit due to various reasons, mainly due to game conduction without fans.

The implications of the economic problems are set to affect the stars as well, as the NBPA will discuss a salary escrow for players in the range of 18 percent for the next two years.

2020 NBA Finals - Game Six

In other NBA news, the league will also discuss next season's start on Thursday in a board of governors meeting. The NBPA and team representatives will also talk over a pre-Christmas start, as the expectation is to agree upon a 22nd December kick-off.

Escrow withholding does not impact a cap charge and the amount sent out in a trade (or how it impacts the luxury tax, cap space or hard cap).A $20M player is still $20M.

— Bobby Marks (@BobbyMarks42) November 4, 2020

If 22nd December is agreed upon as the start date, that would mean a 72-game regular season and a 25 percent dip in travel. The idea is to reduce the risk of contracting COVID-19 and make sure that players don't face a lot of physical exertion. Teams also won't play 14 back-to-back games, as the league is making its best efforts to protect the players.

18% escrow in 20-21 would withhold roughly $720M from the players. That does not include reduced pay based on less games played. A player like Steph Curry could see his $43M salary reduced to $31M (factoring escrow and less games played). https://t.co/I8UddRqeCx

— Bobby Marks (@BobbyMarks42) November 4, 2020

Next season is expected to be highly competitive, as teams like Golden State Warriors and Brooklyn Nets will welcome back big names after an injury-plagued year for both the franchises.

Contenders like Milwaukee Bucks and LA Clippers are also planning to make major moves in the offseason and are expected to give last season's finalists, the LA Lakers and Miami Heat, a run for their money.

Latest reporting via @ShamsCharania...🏀 NBPA vote Thursday/Friday🏀 Growing belief Dec. 22 start is inevitable🏀 NBA, NBPA negotiating three-year escrow🏀 Dec. 22 vs. Jan. 18 start ramificationsMore details ⤵️https://t.co/BYEWelzUwi

— The Athletic NBA (@TheAthleticNBA) November 4, 2020