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Vikings fullback Felton charged with DWI
NEW YORK, Oct. 4 (UPI) -- Negotiations between NBA team owners and locked-out players broke down Tuesday, endangering the scheduled Nov. 1 start of the 2011-12 season.
NBA Commissioner David Stern said the rest of the pre-season schedule would be canceled because of the lack of a new agreement, NBA.com reported.
He added, "by Monday, we will have no choice but to cancel the first two weeks of the season," resulting in the loss of hundreds of millions of dollars in revenue.
"We gave it a real good run and it didn't work," he said.
No further bargaining sessions have been scheduled, NBA Players Association Executive Director Billy Hunter said.
"There has been no discussion about next meetings. Maybe a month. Two months," he said. "Your guess is as good as mine. As of this moment, we've broken off the negotiations."
"Today was not the day to get this done," added union President Derek Fisher.
Fisher, joined by fellow players Kobe Bryant, Kevin Garnett, Paul Pierce and Ben Gordon, said the union had reduced its demand for a league-wide share of revenues from 57 percent to 53 percent, but it wasn't enough.
Owners, who say the NBA needs a financial restructuring to survive, are reportedly seeking to cut the players' share to 46 percent and want to institute a stricter salary cap.
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