9:00 p.m.: According to multiple reports, the sides have agreed to a deal for the next five years. Joel Sherman of the New York Post notes that rosters will remain at 25 players and will expand in September, as has happened in previous seasons.
Sherman also reports that there will be no international draft included in this CBA. Bob Nightengale of USA Today reports that the luxury tax has been set at $189 million but will rise over the course of the deal.