If they don't get a new CBA done in time, there won't be a FA period before the draft. They'll do the draft either way, but there won't be a period to sign FAs before that draft if no new CBA is hammered out in time. Even if there was one, teams wouldn't want to make any moves of significance because there'd be no idea what a new CBA would bring in terms of salary cap, franchising, etc. There's a lot of interesting scenarios too. The owners could decide not to lockout, and declare that the year will be played under the rules of the previous CBA, which would force the players to decide whether or not to strike.