NBA Owners, Players Break Off Talks With No Deal
October 28, 2011 2:16 PM
NEW YORK (CBS/AP) -- NBA owners and players have ended negotiations for the day after meeting for about six hours. Both sides had pointed toward Friday as the day they hoped to close the gap on the finances. Owners are insistent on a 50-50 split of revenues, while players last formally proposed they get 52.5 percent, leaving them about $100 million apart annually. Players were guaranteed 57 percent in the previous collective bargaining agreement. The sides met for 7 1/2 hours Thursday following a 15-hour marathon the previous day. Without a deal, Stern will make an announcement to decide whether to add more cancellations to the two weeks that have already been lost.