After four-hours of negotiating Tuesday evening, the session went absolutely nowhere. The controversy over what was offered, NBA decided to cancel the first two weeks of the regular season for the second time in its history.The only other time the league lost regular-season games was in 1998-99, when the lockout lasted 206 days and ended in early January.
This lockout has the makings of matching or exceeding the previous one, with both sides still miles apart on how to divide $4.3 billion and what the actual split will be in a new collective bargaining agreement. In any event, it’s a catastrophe for both sides, with players saying they stand to lose $350 million a month in guaranteed salaries.
Read full article after the jumpThe league did not give an estimate of its losses, but Stern admitted it will be worse than the previous lockout 13 years ago because the league has grown since then.
After talks broke off in a midtown Manhattan hotel, the league went ahead and cancelled the final two weeks of the preseason. The cancellations will become official Monday.
After talks broke off in a midtown Manhattan hotel, the league went ahead and cancelled the final two weeks of the preseason.
After talks broke off in a midtown Manhattan hotel, the league went ahead and cancelled the final two weeks of the preseason. There are no talks scheduled for the foreseeable future, with NBA Players Association executive director Billy Hunter saying negotiations might not resume for a month or two before the two sides reconvene.
The NBA didn’t share Hunter’s opinion on when negotiations will resume. Nor did it agree on Hunter’s contention that the league offered the players 47 percent of revenuee. Facing major pressure from a powerful agent lobby that does not want the players to take less than 52 percent – and could force the NBAPA to decertify to put the entire process in the courts – the union refused to come down from its offer to take 53 percent. Players have been getting 57 percent of the NBA’s revenue since 2005-06.
While Hunter said that the owners’ deal was for only 47 percent, Stern insisted that he discussed a concept with the union leaders, including president Derek Fisher, that would have made owners and players equal partners.
According to Stern, players rejected the “concept” that the commissioner felt owners would have signed off on. In their post-negotiating press conference, players never mentioned the owners’ 50-50 offer.