The NBA and players union held a crucial labor meeting today in New York, and although each side understood the importance of today’s talks, no new CBA was signed. Instead the sides could not close their economic issues, as the union would not make its BRI split under 50% and the owners did not agree to allow the players to get anything over 50%. To make it simple, the parties are very far apart from solving their money issues. According to the union, the last formal proposal set forth by the owners offered the players only 47% of the BRI.
However, the owners told the reporters that they offered the union a 50-50 BRI split, they moved off the hard-cap, ensured guaranteed contracts, but the union still rejected.
Unlike the previous meetings where future sessions were scheduled, neither side offered a date when they would pick up talks. Instead union Chief Billy Hunter told the media, “There are no scheduled meetings. Maybe a month, or two months. It’s your guess.”
NBA Commissioner David Stern told the media afterwards that the league will be cancelling the remainder of the pre-season within in the next day, and will cancel the first two weeks of the regular season on Monday if no deal is signed.
It looks like for the first time since the 1998-99 season, the NBA players will be missing out on their paychecks. The fans and the workers at the various arenas are, however, the biggest victims.