The Phoenix Suns are expected to sell for more than $3 billion, sources tell ESPN.

NBA franchise valuations have continued to rise coming out of the COVID-19 pandemic and with new television rights deals on the horizon.

Robert Sarver purchased the Suns for just over $400 million in 2004.

The NBA and NBPA have long been expected to revert back to its previous rules allowing high school players to enter the draft, Adrian Wojnarowski of ESPN has tried to walk back earlier reports indicating an agreement will be reached.

The NBA is attempting to bargain for player agents to be forced to provide medical information and physicals to all 30 teams as part of the draft process. Currently, agents can exert control over who they share that information with in an attempt to direct their clients away from teams they would prefer to avoid.

Those conversations between the NBA and NBPA have yet to begin and will be part of their larger CBA negations. 

Also, if the one-and-done rule is changed, the expected starting date will likely be several years into the future. The first year where high school players are allowed to enter the NBA directly will essentially create a double draft.

The NBA league office and some team owners are in favor of more punitive penalties in its luxury tax.

A hard cap on team salaries, however, continues to be a non-starter for the NBPA.

Team executives believe the tax penalty will possibly be the biggest issue the two sides will need to resolve as part of this collective bargaining agreement. 

If the NBA further increases luxury tax penalties, it will create more revenue share opportunities, but it will also prevent smaller market teams from ever considering going into the tax for multiple years to sustain a contending team.

The NBA and NBPA are expected to agree on moving the age eligible for the NBA draft from 19 years old to 18 as part of its next collective bargaining agreement, sources tell Shams Charania of The Athletic.

The NBA moved its age limit to 19 years old in 2005.

The reduced age limit for high school to NBA jumps would begin as early as the 2024 NBA draft. 

The NBA and NBPA have held conductive and serious talks on a new collective bargaining agreement that will contain several new measures.

The two sides will have their next in-person meeting this season, which will serve as a critical session to set the stage ahead of their December opt-out deadline.

One new, major goal for the NBPA is the idea of building lasting equity for its players beyond their playing days.

“Creating generational wealth is critically important in this next chapter of the Union,” Tamika Tremaglio told The Athletic. “It’s critical to their legacy. Historically we have been so focused on making money — salary cap, etc. — but we all know that to have money, you’ve got to invest. We also know that the uncertain lifespan (of an NBA career) makes it crucial to plan for what happens after the ball stops bouncing — creating this generational wealth.

“Thinking about the players’ contributions to the game and how they can be compensated for it will mean there will have to be more equity structures in place. It could be the sale of a team. It could be the deals they are entering where they are receiving equity beyond the four or five years that a contract exists. It’s much broader, and I don’t think historically we’ve looked at it. It’s been the here and now.”

Sources with knowledge of the situation say that the NBPA has brought up the idea of a players-only fund able to be used post-playing career as an opportunity to be part of ownership groups of franchises that are up for sale. 

The NBA has informed teams that its current projection for the 23-24 season has increased by $1 million to $134 million.

A $134 million is $10.4 million higher than the salary cap for the 22-23 season.

The tax level is projected at $162 million based on the $134 million salary cap.