BREAKING: NBA, PLAYERS REACH TENTATIVE LABOR DEAL

According to Ken Berger of CBSSports.com (here), Adrian Wojnarowski of Yahoo! Sports (here), Howard Beck of The New York Times (here) and Chris Broussard of ESPN.com (here), the NBA and its players have reached a tentative agreement on a new labor deal after 15 hours of negotiations in New York City on Friday.

The reports started trickling in just after 3 a.m. Eastern time on Saturday. The deal is obviously subject to approval by both sides and the players must reform their union to ratify it. So-called "B-list" issues remain to be resolved.

"We have reached a tentative understanding," NBA commissioner David Stern said. "We're optimistic that the NBA season will come to pass on Dec. 25, Christmas Day, with a triple-header."

"We are happy that we have been able to reach a tentative litigation settlement," NBPA executive director Billy Hunter added. "We're going to turn it all over to the lawyers ... Once we present it [to the players], we're confident they will support it."

Stern said that training camps and free agency are both expected to open on Dec. 9.

NBA TV announced the tentative labor deal early Saturday morning shortly after reports first broke.

Here's video of NBA commissioner David Stern and National Basketball Players Association executive director Billy Hunter making the announcement which aired on NBA TV.

Saturday is day No. 159 of the ongoing lockout.

Click through for Friday's earlier developments.

What does this all mean? Check out the following links...

5 THINGS TO KNOW | TEAM SALARIES | WHERE BLAZERS STAND

-- Ben Golliver | benjamin.golliver@gmail.com | Twitter

EARLIER UPDATES...

NBA commissioner David Stern said, according to Berger...

Stern: "We've reached a tentative understanding."

Stern: "We're optimistic ... that the NBA season will come to pass on Dec. 25, Christmas Day, with a triple-header."

Stern: "If all goes smoothly, training camps will open Dec. 9. Season will be 66 game beginning on Christmas."

Wojnarowski reported...

Free agency and camps starting together on Dec 9 means teams like New Orleans and Boston will show up with just a handful of signed players.

MUCH EARLIER UPDATES...

Representatives of the NBA and its players picked up labor negotiations in New York on Friday and spent more than 15 hours talking, but it was not clear until the end whether they were going forward or backwards.

Talks began at noon on Friday and stretched past 3 a.m. Saturday morning after the two sides had reportedly exchanged communications informally on Tuesday and Wednesday.

As Friday's face-to-face negotiations marched past the 10-hour mark, multiple reports indicated that the players requested a 51 percent of the Basketball Related Income split. In the NBA's most recent proposal, the players would have received a 50 percent split. The players previously have said they would accept a 50 percent revenue split if they receive certain system issues that they feel are "must-haves."

The 51 percent request reportedly came from players attorney Jeffrey Kessler, who recently made headlines when he apologized for saying that NBA commissioner Stern treats the players "like plantation workers." Kessler was reportedly not present during today's negotiations but made the request via conference call. 

Adrian Wojnarowski of Yahoo! Sports reported...

Players pushed for return to 51% of revenue split, source says; Stern, [San Antonio Spurs owner Peter] Holt refused. The players are clearly trying to feel out how much leverage the filing of federal suits against the NBA have gained them in the process.

Chris Broussard of ESPN.com reported...

Owners dismayed by players asking for 51% BRI 2nite. Players have wanted more than 50 since disclaiming.... League source says no way deal getting done if players insist on more than 50% BRI.

Owners' Labor relations committee deflated when told on conference call that players asked for 51% BRI

League source also said players not getting full midlevel from luxury tax teams..players not asking for full ml, just increase from $3 mill

Howard Beck of the New York Times reported...

Have confirmed that Kessler, via speakerphone, asked for 51% tonight, as reported by Yahoo and ESPN. Step backwards in negotiations.

Ken Berger of CBSSports.com reported the following rosters...

Representing the players during the talks were former NBPA executive director Billy Hunter, former NBPA president Derek Fisher, former NBPA board member Maurice Evans, attorney Ron Klempner and economist Kevin Murphy. The league was represented by NBA commissioner David Stern, deputy commissioner Adam Silver, San Antonio Spurs owner Peter Holt and NBA general counsel Rick Buchanan.

Berger also noted that antitrust attorneys hired by or linked to the players -- David Boies and Jim Quinn -- were not in the room, suggesting that the labor talks were essentially picking up where they left off prior to the players filing an antitrust lawsuit against the league last week.  

-- Ben Golliver | benjamin.golliver@gmail.com | Twitter

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