The Official S2 NBA Lockout Thread!

This.

 

Stern: Owners moved off the hard cap. Previously agreed guaranteed contracts would be authorized, no rollbacks. Players could opt out 7 yrs

 

Stern expected to say rest of preseason cancelled and first two weeks of regular season cancelled without a deal by Monday, source says.

 

Stern: Owners floated a 50-50 deal, players said no. That ended the meeting.

 

Stern: league offered players an opt-out After yr seven of 10-year proposal. Players offered 50-50 BRI split, but rejected it.

 

David Stern: "By Monday, we'll have no choice but to cancel the first two weeks of the regular season."

 

SpearsNBAYahoo: "We have no forgone conclusion and no meetings scheduled," Stern said.

 

Stern: No meetings scheduled. We were told it's not to be.

 

Adam Silver: We were prepared to meet around the clock. 50-50 killed it.

 

Stern refused to say whether 50-50 offer was one-day only. Says league will lose $200 million as a result of no preseason

 

"There is an extraordinary hit to the owners and the players," Stern said.

 

Stern: We thought this was the time there was a real opportunity to make progress. It wasn't to be.

 

"We are now looking down the barrel of the first two weeks of the season," Stern said.

 

The Celtics getting pissed is totally understandable. Losing a season while in the twilight of their respective careers essentially kills their chances at competing for a title again.

 

Stern says any new offer will be adjusted for the eight games (or so) players were obligated to play in preseason.

 

Stern said he and Hunter stood together in meeting and said, "What about 50-50?"

 

Stern said this 50-50 offer was without the additional expense reductions Hunter described.

 

Silver said he, Stern, Holt and Hunter/Fisher tried to strike this deal in small group of 50-50 based on old BRI formula.

 

Kevin Garnett was extremely emotional in players pre-meeting, sources say. He was rallying peers to hold firm on BRI split.