The NBA and NBPA have reached an agreement to extend through the September the 60-day window that preserves the league's right to terminate the current Collective Bargaining Agreement by use of the force majeure clause.
The original 60-day window was set to close this week.
The agreement to push back the deadline allows the NBA and union to gather a clearer picture of the economic losses and bargain on a number of crucial financial issues including salary caps and luxury tax thresholds.
During a conference call with members of the NBPA membership on Friday, Silver began to prepare the players for the harsh financial realities.
"This CBA was not built for an extended pandemic," Silver said on the call, according to the audio tape. "There's not a mechanism in it that works to properly accept a cap when you've got so much uncertainty; when we'd be going in next season saying, 'Well, our revenue could be $10 billion or it could be $6 billion. Or maybe it could be less.'"