It's official. The lockout continues.
When talks ended Friday (October 28) without a deal reached between owners and players, commissioner David Stern announced that further games have been canceled.
According to ESPN, the league has called for the cancellation of games through November 30th.
At this point, Stern said it is "not possible, practical or prudent" for the league to play a full 82-game schedule for 2011-2012. Essentially, he's saying that if play does continue this season, it will be a shortened season.
The commissioner also said that the two sides made progress on system issues during talks on Friday, but progress halted when the topic turned to revenues.
With the league's offer to a 50-percent split of basketball-related income with the players still on the table, union executive director Billy Hunter said "he was not willing to go a penny below 52%."
"He closed up his book and walked out of the room. And that's where we are," Stern said.
At press time, no further talks have been scheduled.
Union president, Derek Fisher, said that the players' side hopes to meet soon and "close this out." But, "today wasn't the day."
Friday, owners were still insistent on a 50-50 split of revenues, while players last formally proposed getting 52.5 percent, leaving them about $100 million apart annually. Players were guaranteed 57 percent in the previous collective bargaining agreement.
Hunter said the players will not accept a 50-50 split.
Additionally, discussions about the salary cap system were problematic.
That's the latest folks. If things are settled soon, the 2011-12 NBA season may be lose. Sucks for the fans.