Source: Michael Lee / The Washington Post
The first two weeks of the 2011-12 NBA season are now in jeopardy after owners and players met for more than four hours on Tuesday in New York and promptly broke off negotiations on a new collective bargaining agreement that would end the lockout.
NBA Commissioner David Stern and deputy commissioner Adam Silver announced the cancellation of the final 114 preseason games and set Monday as the deadline to save the start of the regular season. But the possibility that the league will lose regular season games for the first time since the lockout-shortened season in 1998-99 became more likely when the NBA and the players’ union failed to come closer on an agreement and left the meeting without scheduling another bargaining session.
“We were not able to make the progress that we hoped we could make and we were not able to continue the negotiations,” Stern told reporters in a news conference. “We gave it a real good run and it didn’t work.”
Stern said the league would lose nearly $200 million from wiping out the exhibition season and would take an “extraordinary hit” once regular season games were lost.
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