Wednesday, October 5, 2011

NBA talks break down over money, start of season in danger!

NEW YORK - The NBA canceled the remainder of the preseason Tuesday and will wipe out the first two weeks of the regular season if there is no labor agreement by Monday. “We were not able to make the progress that we hoped we could make and we were not able to... continue the negotiations,” Commissioner David Stern said after nearly fours of talks between owners and players ended without gaining ground on a new deal.No further meetings are scheduled, making it even more likely the league will lose games to a work stoppage for the first time since 1998-99, when the season was reduced to 50 games.

The regular season is scheduled to open Nov. 1. Players would have reported to training camps Monday, but those were postponed and 43 preseason games scheduled for Oct. 9-15 were canceled last month. The league locked out players on July 1 after the expiration of the old collective bargaining agreement. Seeking significant changes after saying they lost $300 million last season, owners want a new salary cap structure and are seeking to reduce the players' guarantee of basketball revenues. Asked about the agents' letter, Hunter said "The agents aren't in the room. We have their players in the room. These players can set the record straight." Stern said it would be difficult to have an 82-game regular season and not start Nov. 1, noting that arenas are already pressuring the league to see if they can schedule events later this year.

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