Prior to the Board of Governors meeting on Friday, the NBA's finance committee met last Monday and came to a conclusion that the league needed to start the season in December to maximize their revenues for the 20-21 season.

"The owners' finance committee, there's a group of owners who make up the finance committee, had a meeting and in that meeting they looked at everything and decided 'You know what? We need to play sooner rather than later,'" said Brian Windhorst on his podcast. 

"By Friday, by the time the full Board of Governors meeting came together, it was pretty much decided it was going to be Christmas or even sooner.

"They have to work out a deal with the players over the next few days, but it's going to probably be a late December restart for the NBA, which is not something even Adam Silver was believing three weeks ago."

The league projects that starting the season in December will result in an additional $500 million in revenue than they otherwise would lose by starting later.