The last time this happened? The only other time an NBA regular season (1998-99) was abbreviated because of a labor impasse?

The Kings came back refreshed, renewed, unrecognizable. They came back with new minority owners (Maloofs), new coaches, new players, new uniforms and an entirely new look. They came back to a packed, if aging and already problematic, arena, but with a strut in their small-market step and swearing that Kings can play this game, too.

Well, it's time to hit that reset button.

While the Kings still need that new arena – there is no professional sports future here without a modern facility, end of story – the tentative labor agreement reached in the wee hours Saturday gives the Kings another chance. A legitimate chance to compete again. This isn't to say that a Robert Horry clone won't again haunt the Kings, that the best player won't suffer a career-ending knee injury, that the referees won't blow calls or that the stars won't miss free throws and choke away playoff games.

But the small owners arm-wrestled their bigger colleagues for a reason: This is their league, too.

"You never can be sure how a new system will work," NBA deputy commissioner Adam Silver said early Saturday, "but we feel ultimately it will give fans in every community hope that they can compete for championships, and that their basis in believing in a team will be a function of management of that team, rather than how deep the owners' pockets are or how big the market is."

The old collective bargaining agreement didn't destroy a league, but it severely crippled a significant percentage of the 30 teams. While Major League Baseball and the NFL, in particular, became increasingly intent on protecting all their franchises regardless of market size, the NBA neglected too many of its own. Commissioner David Stern's overriding concern throughout his stewardship – that his league would become too big, that the big would become too powerful – came to fruition.

Consider that since Larry Bird and Magic Johnson were rookies in 1979, San Antonio (No. 36 television market), Miami (No. 16) and Detroit (No. 11) are the only small or mid-size franchises to win NBA championships.

The fact the Spurs and Pistons captured multiple titles speaks to the quality of their ownership and front offices, of course, along with the resulting selection of head coaches and assembling of rosters.

But three teams in 32 years? What if Tim Duncan had needed microfracture surgery? For those who don't live in Los Angeles, New York or Chicago, which is a substantial percentage of the fan base, the odds and the numbers just don't crunch.

Interestingly, if Spurs owner Peter Holt was convinced the system was irreparable after amassing four championships – and Holt was seated a few feet from Stern, Silver and player representatives Billy Hunter and Derek Fisher during the news conference – then it was time to rework the model. Inclusion doesn't mean the major markets will shrink and disappear from the playoff screen. Nor does the new deal guarantee that poorly managed small franchises will suddenly become anything more than poorly managed franchises.

But think about these very Kings for a moment. Remember what happened before salaries exploded under the old agreement, when superstars became free agents and moved around but were financially encouraged to remain with their current teams.

Within a matter of months in 1998-99, while the Maloofs were buying out Jim Thomas and committing to competing in the NBA marketplace, Geoff Petrie created cap room and had the opportunity and resources to do the following: Hire Rick Adelman, sign free agent Vlade Divac, trade for Chris Webber, draft rookie Jason Williams, sign rookie Peja Stojakovic and acquire Jon Barry, Vernon Maxwell and Scot Pollard.

The worst of Petrie's moves – and every general manager has his clunkers – was at least partly influenced by the devastating knee injury Webber suffered in Dallas during the 2003 NBA playoffs. Aware that Webber would never fully recover, burdened by the seven-year, $127 million contract the power forward signed in July 2001, and feeling intense financial pressure to remain competitive instead of build, Petrie engaged in a series of Band-Aid moves that resulted in further fractures.

The Webber trade led to Kenny Thomas and Brian Skinner, to questionable midlevel signings and the near-ruinous re-signing of Bonzi Wells.

Teams like the Lakers – the major markets – can absorb similar hits and overspend to compensate for mistakes. Because of inherent corporate opportunities and massive regional television deals, their wiggle room is enormous.

But not the Cavs, the Suns, the Grizzlies, and definitely not the Kings.

For those concerned that enhancing parity will somehow deprive the league of its superteams and spectacular playoffs, I end with two thoughts. One, Duncan could play in New York and still put his audience to sleep. Two, those 2002 Kings were more entertaining and held more global appeal than any Knicks squad featuring Carmelo Anthony and Amare Stoudemire – with the television ratings to prove it. (Kings-Lakers conference finals remains one of the most-viewed matchups of all time).

So here it is, four weeks until Christmas, which was Stern's private little deadline. It's time to see if these 2011-12 Kings can pass the ball, which around here means passing the test.

ANATOMY OF A DEAL

OWNERS' BIGGEST WIN

Reducing the players' guarantee of basketball-related income to no higher than 51 percent after the players received 57 percent under the previous deal, a swing of at least $240 million annually.

OWNERS' BIGGEST LOSS

The NFL-style hard cap and non-guaranteed contracts they sought. The system is in fact similar to the old one, just with harsher luxury tax penalties to limit spending.

PLAYERS' BIGGEST WIN

Preservation of the midlevel exception – though in a reduced form – and various trade rules for teams over the luxury tax, keeping the biggest-market teams in the running to bid for them, even if they can't pay as much as they used to.

PLAYERS' BIGGEST LOSS

Money. They're transferring more than $1 billion in salary and benefits to the owners in the first six years of the deal.

KEY DATES

• Dec. 9: Free agency and training camps open.

• Dec. 25: The regular season starts with three games. The rest of the schedule is expected to be finalized in the coming days.

WHAT'S NEXT

More details still must be worked out, including dismissing pending lawsuits, re-establishing the players' union and voting by both the players and owners to ratify the deal.

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Call The Bee's Ailene Voisin, (916) 321-1208.

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