Bryce Cotton, the reigning NBL MVP and Grand Final MVP, opted out of his contract with the Perth Wildcats.

Cotton, whose over-$200,000 salary would have been cut in half, cited the effects of recent salary-cutting measures due to the COVID-19 pandemic.

"Due to unforeseen circumstances that have unfolded which none of us could've predicted, it is in me and my family's best interest to opt out of my contract. Regardless, I'll always be a Wildcat at heart in my eyes and I hope you all feel the same way. "I had so much fun here and hope you all enjoyed these past 3 1/2 seasons as much as I did," released Cotton in a statement.

The 27-year-old Cotton averaged 22.9 points per game last season.

Other players earning over $200,000, including Casper Ware, are also considering opting out of their current deals.

The EuroLeague has announced they will make a decision on whether to resume or complete their season by May 24th.

If they decide to resume the season, they will quarantine from May 29th to June 11th if necessary. Training camp will run from June 12th until July 2nd with games being played in a central venue from July 4th to July 26th.

The EuroLeague also reached an agreement with its players association with players receiving 80 percent of their yearly salary if the season is canceled and 85 percent if the season resumes.

Barcelona forward Leandro Bolmaro declared for the 2020 NBA draft.

The 19-year-old Argentine split time between Barcelona's second team and the main team this season.

Balmaro is currently ranked No. 22 in ESPN's draft projections. 

The Chinese Basketball Association has suffered another setback and have postponed their calendar until at least July.

The CBA had initially planned on resuming play on April 15th. On March 30th, the General Administration of Sports issued a ban on large sports gathering due to concerns over the containment of COVID-19.

No final decision on the CBA's season can be made without government clearance.

There are more than a dozen American players who returned to China and finished their 14-day quarantine period. Some of the top players in the CBA told ESPN they intend to stay in China as long as they are receiving salaries, rather than conducting two additional 14-day quarantines.

Italian Basketball Federation president Gianni Petrucci announced the cancellation of the 2019-20 LBA Serie A season due to the COVID-19 pandemic.

No league title will be awarded for the season.

Three Italian teams - Olimpia Milano, Reyer Venezia and Virtus Bologna - are still currently active in the Euroleague and EuroCup competitions.

NBL commissioner Jeremy Loeliger cleared the air over recent rumors that LaMelo Ball and his business partner Jermaine Jackson purchased the Illawarra Hawks, calling Jackson's comments an "honest mistake."

Jackson announced the purchase of Ball's former club before the story was retracted by the Hawks' current sponsor Tory Lavalle.

"It was a bit of misunderstanding and a miscommunication and I don't think there was any malice intended. I don't think anyone was trying to leverage the situation. I think it just snowballed and it got a little bit out of control but we've all had conversations and there's certainly no bad blood out there between anyone," said Loeliger.

The NBL took back the license for the Hawks from previous owners Simon and Wendy Stratford.

Loeliger added that several people are in the mix to purchase the club, including Ball and Jackson.

"There are a number of parties interested in ownership, either in part or whole, including LaMelo Ball and his management, and Jermaine Jackson in particular. We're continuing to have discussions with them, which is great, but there are plenty of others in the background also."

The sale of the Illawarra Hawks to LaMelo Ball and his manager Jermaine Jackson is not yet complete, according to Australia's NBL.

Ball and Jackson said that they purchased the team on Thursday. 

The NBL did confirm that there were talks surrounding the sale of the team.

The league stated that it has "final approval of any transfer of license," and that they have yet to receive an application for the transfer.

The NBL announced that it was working with Simon Stratford, the current holder of the Hawks' team license, on "a number of options for what we hope will be a fruitful outcome for Illawarra and the NBL."