The NBA and NBPA have come to an agreement on a new CBA, effectively cooling off any talks of a lockout for the foreseeable future. Among some of the new wrinkles in the next agreement, one stands out.
Game changer: The league's new collective bargaining agreement will give players the ability to invest in NBA and WNBA teams, as well as promote and/or invest in sports betting and cannabis companies, sources tell @TheAthletic @Stadium.— Shams Charania (@ShamsCharania) April 2, 2023
We’ll see exactly how the player investment portion is administrated going forward, especially on the NBA side of things. It would be awkward to see LeBron James invest in a team other than the Lakers.
The sports betting and cannabis company promotion also makes a lot of sense for the league, given how both sources of revenue have risen to prominence in the last few years. The leagues have leaned into gambling, especially after seeing how much states have profited from legalizing sports betting. Of course, there are going to be questions of integrity for players who are promoting bets involving them or their team. That will have to be further ironed out. After all, it was only a year ago that the NFL suspended Atlanta Falcons receiver Calvin Ridley for gambling. The NBA seems to be taking a more lenient approach.
There will be more details which specify how players can invest and promote these companies, but this is a great sign of progress for the NBA and the players can be happy knowing they will start to see some of the rewards of their hard work as driving forces for the league’s success.