Deadline is Over: First Two Weeks of NBA Regular Season Canceled
The first two weeks of the NBA regular season have been canceled as the labor deal issue remained unresolved between the owners and the players union.
NBA commissioner David Stern announced the cancellation on Monday after owners and players could not reach to a new agreement. Stern also indicated that there is no chance of a full 82 game regular season. Now teams are expected lose about six to eight games.
After more than seven hours of negotiations, meeting in New York ended without a new collective bargaining agreement. Stern said both sides are “very far apart on virtually all issues. … We just have a gulf that separates us.”
The regular season was scheduled to start on November 1 but now there is no possibility that it will began before Nov. 15.
NBA deputy commissioner Adam Silver said that the league would lose hundreds of millions of dollars due to canceled games, while NBPA executive director Billy Hunter estimated players’ losses at $350 million for each month they were locked out.
The main issue was the split of revenue. The Players wanted 53 percent share of the basketball-related income while owners were offering only 47 percent, almost 10 percent less than the previous deal. Owners had also asked for a 50-50 split but players union rejected that proposal as well.
The two sides expect to remain in contact, but no further formal talks have been scheduled.
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