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NBA lockout is officially on

Dpantherman

By Dpantherman,
in Charlotte Hornets

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cdandi1 Newbie

cdandi1

Posted
Posted

http://sports.espn.go.com/nba/news/story?id=6723645

NEW YORK -- NBA players are locked out, possibly jeopardizing next season.

Union chief Billy Hunter said Thursday afternoon that owners had locked out the players after failing to reach a new collective bargaining agreement.

With this latest action, two of four major professional sports in the United States are locked out. The NFL locked out its players in March, and the two sides have been in discussions this week, trying to work toward a new deal.

Despite a three-hour meeting Thursday, the NBA and its players could not close the enormous gap that remained in their positions. The CBA was due to expire at midnight.

Hunter said the union made a "moderate" new financial proposal, but it wasn't enough to keep the two sides at the bargaining table.

Hunter said the two sides plan to meet again in the next two to three weeks.

All league business is officially on hold, starting with the free agency period that would have opened Friday, and games eventually could be lost, too. The last lockout reduced the 1998-99 season to just a 50-game schedule, the only time the NBA missed games for a work stoppage.

"We tried to avoid the lockout; unfortunately, we couldn't reach a deal," union executive committee member Matt Bonner said.

The sides remained far apart on just about every major issue, from salaries to the salary cap, revenues to revenue sharing.

Players, who previously offered to reduce their salaries by $500 million over five years, considered the owners' proposal for a "flex" cap, where each team would be targeted to spend $62 million, a hard cap. Although the league said total player compensation would never dip below $2 billion over the life of its proposed 10-year deal, that would amount to a pay cut for the players, who were paid more than $2.1 billion this season in salaries and benefits.

Owners also wanted a reduction in the players' guarantee of 57 percent of basketball revenues.

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Its The Milk Newbie

Its The Milk

Posted
Posted

These lockouts are so frustrating. I don't really understand the players complaints in either of them. They get paid in 1 game what people strive years for. I wish they would just realize that the league they love, in relation to the NBA, is losing money and might not be playing this year.

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