The NBA and National Basketball Players Association are working on a seven-year extension to the Collective Bargaining Agreement, with a mutual opt-out in six years, league sources told The Vertical.

The seven-year deal could potentially deliver the NBA labor peace through the 2023-24 season, unless the opt-outs are exercised in 2022, league sources told The Vertical.

The new deal could potentially help Adam Silver deliver labor peace through the 2023-24 season. (Getty Images) More

The new CBA will begin with the 2017-18 season.

The NBA and union share a Dec. 15 opt-out date on the current 10-year labor agreement, but the sides are nearing completion on a new agreement that’ll be finalized within weeks, league sources said.

The NBA and the union have agreed upon the major issues of the deal, and are finishing negotiations on smaller provisions, league sources said.

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