The NBA and NBAPA have agreed upon a new Collective Bargaining Agreement. This new CBA agreement will now change the financial landscape for NBA players. Aside from the in-season tournament, the NBA seems to have put the financial security of its players above everything else. These new investment ventures for the NBA players will be the first in American sports.

NBA Players Can Now Invest In NBA And WNBA Teams

In the new CBA (collective bargaining agreement) NBA players will now have the ability to invest in NBA teams as well as WNBA teams. These investments will signal a seismic shift in the sports world. The NBA will become the first major American sports league to give payers the chance to invest in an equity stake in their own teams. In other words, this will create a massive financial upside for the athletes. In essence, this will limit the days when retired NBA players go broke. For years there have been players that go broke three to four years after retiring. Therefore having equity would allow for financial relief. As well as this can help the financial stability of WNBA teams by having NBA players back them financially.

Players Can Promote And Invest In Sports Betting Companies

For years sports betting and professional athletes being spoken of together was frowned upon. However, sports betting is becoming legal and more widespread across the United States. It is hard to escape and even harder to now ignore. As of 2021 DraftKings and Fanduel are now the official sports betting partners of the NBA. The new CBA now allows players to invest in these sports betting companies. As well as they can promote and gain sponsorship from those companies. In like manner, the players gain an equity stake in professional sports teams. Sports betting ventures promote financial security and more opportunities for the players.

NBA Players Can Invest In Cannabis Companies

With the major news that the NBA has now removed cannabis from the anti-drug policy. Like sports betting cannabis is becoming legal in more states and NBA players can invest in those companies as well. In general, this continues to go with the philosophy that the players’ financial stability is chief among them. With another activity that has been frowned upon for centuries is now readily more acceptable. The CBA has contributed to a new progressive wave of sports.

Conclusion

The NBA has been the class of American professional sports for years. The new CBA continues to prove that they are ahead of the game and way more progressive than other leagues. In like fashion, the NBA has taken care of the players and tries to be more forward-thinking. While also looking toward the future of sports and the future of the players.

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