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The NBA and NBPA are making progress on negotations on a new collective bargaining agreement.

There has been significant progress in recent weeks on key issues and there is hope a deal can be finalized in the coming weeks. The two sides recently extended their opt-out deadline to March 31st.

The NBPA has informed the league office that it is their intention and goal to complete a deal in March.

“We want to finish this deal soon and certainly want this wrapped up before the (March 31) deadline,” one high-ranking source involved in the players’ negotiations, who was granted anonymity so they could speak freely, told The Athletic. “It’s close – we need to dot the I’s and cross the T’s.”

Among the most critical issues, the NBA and NBPA are negotiating new luxury-tax tiers and rates to increase the lower tier and make it more viable for teams to spend money into the tax. The NBA and NBPA are attempting to identify where the tax bracket tiers should be set.