NBA Update: Training Camp And Free Agent Signings

01:54

December 10, 2011

NBA Commissioner David Stern smiles during a news conference alongside Deputy Commissioner Adam Silver following the ratification of a new collective bargaining agreement on Thursday. (AP) — NBA Commissioner David Stern smiles during a news conference alongside Deputy Commissioner Adam Silver after the ratification of a new collective bargaining agreement on Thursday. (AP)

NBA players and owners ratified a new collective bargaining agreement on Thursday, officially ending the 161-day lockout that began July 1. The two sides agreed to a 10-year deal with an opt-out clause after six years, which will save the owners around $250 million a season. The 66-game 2011-2012 season will begin on Christmas Day.

Training camp officially opened on Friday, and the free-agency period began that same afternoon.

This segment aired on December 10, 2011.