Stern: We had agreed all players previously under contract would receive money even if above BRI split (i.e. no rollbacks)
Woj Stern talking about league giving "concessions" on allowing NBA players to be paid under current contracts. Amazing.
Stern: Billy Hunter said he was not willing to go a pennny below 52. ... He closed up his book and walked out of the room.
Stern: It's not practical, possible or prudent to have a full season now. We held out that joint hope together.
Silver: In order to change the economic model that underpins this league, we had to reduce expenses across the board.
Stern: We're going to have to recalculate how bad the damage is. The NBA next offer will reflect the extraordinary losses that are piling up
Stern essentially says: As the NBA loses more money with the cancellation of games, the players can expect owner's offers to get worse.
Stern: We were at 47 percent and despite the continuing losses to us we were prepared to go to 50 an settle this.
Stern: "I would say both sides are very badly damaged..There will be two severe sets of losses, but that's what happens in a labor dispute."