NEW YORK, June 29 (UPI) -- NBA owners are set to lock out players unless an agreement on a new labor deal can be reached soon, multiple reports indicated Wednesday.
The current labor contract with players expires at midnight Thursday and a settlement before then is unlikely, the San Antonio Express-News reported.
The newspaper said the start of a lengthy work stoppage "may be mere hours away" and predicted owners would seek far-reaching concessions from players, including a hard salary cap, the elimination of guaranteed contracts and a 33 percent salary cut.
Citing sources it did not name, the Express-News reported several team owners are willing to sacrifice the entire 2011-12 season to a lockout to fix a system in which the league claims 22 of its 30 teams are losing money.
If a lockout happens, the NBA would join the NFL in resorting to a work stoppage to hammer out new financial terms.
NBA players, however, won't be in a big hurry to get back onto the court, predicted Marc Ganis, president and founder of the sports consulting firm SportsCorp.
"Players have been so well-paid for so long, they can hold out for longer than most of the other sports," he told The Washington Post.
