NBA cancels all games through Nov. 30
(AP) - NBA Commissioner David Stern canceled all NBAgames through Nov. 30 on Friday after NBA labor negotiations brokedown for the second time in a week. "It's not practical, possible or prudent to have a full seasonnow," Stern said. After two days of making some progress on salary cap issues, thetwo sides brought the revenue split back into the discussion andgot stuck on both. Owners are insistent on a 50-50 split of revenues, while playerslast formally proposed they get 52.5 percent, leaving them about$100 million apart annually. Players were guaranteed 57 percent inthe previous collective bargaining agreement. "We made a lot of concessions, but unfortunately at this timeit's not enough, and we're not prepared or unable at this time tomove any further," union executive director Billy Hunter said. Stern said the NBA owners were "willing" to go to 50 percent.But he said Hunter was unwilling to "go a penny below 52," thathe had been getting many calls from agents and then closed up hisbook and walked out of the room. Hunter said the league initially moved its target down to 47percent during Friday's six-hour session then returned to itsprevious proposal of 50 percent of revenues. "Derek (Fisher) and I made it clear that we could not take the50-50 deal to our membership. Not with all the concessions that wegranted," Hunter said. "We said we got to have some dollars." But with more games canceled, the losses will begin to mount. "We're going to have to recalculate how bad the damage is,"Stern said. "The next offer will reflect the extraordinary lossesthat are piling up now." Just a day earlier, Stern had said he would consider it afailure if the two sides didn't reach a deal in the next few daysand vowed they would take "one heck of a shot" to get a deal. No further talks have been scheduled.