Via Yahoo! Sports:
The NBA and the Players Association have reached a tentative agreement to end the five-month old lockout and start the league’s 2011-12 season on Dec. 25.
After 16 hours of negotiations Friday, the two sides reached a handshake agreement a little after 3 a.m. ET in New York. Both sides must still get a majority vote from the 29 owners and 450 players to finalize the agreement – as well as negotiate a series of smaller issues like a drug testing policy.