The National Basketbal Association and the National Basketball Players Association met for more than four hours in New York City on Tuesday but failed to reach an agreement on a new collective bargaining agreement.
NBA commissioner David Stern announced the cancellation of the rest of the preseason games on Tuesday and said the cancellation of the first two weeks of the NBA's regular season will come on Monday.
NBPA executive director Billy Hunter said that there are currently no further meetings scheduled and that the next meetings could be "a month or two months" away.
NBPA president Derek Fisher said that the players offered to reduce their cut of Basketball-Related Income from 57 percent to 53 percent while the owners were only willing to increase their offer to the players of 46 percent to 47 percent. Meanwhile, NBA deputy commissioner Adam Silver said the players rejected an informal proposal that would have worked to roughly a 50/50 split in BRI.
Update: Analysis and further information from around the internet: Henry Abbott, TrueHoop.com (here), Zach Lowe, SI.com (here), Chris Sheridan, SheridanHoops.com (here), and Ken Berger, CBSSports.com (here).
Both Sheridan and Berger are optimistic that a deal is much closer than it might seem.
-- Ben Golliver | email@example.com | Twitter