NBA News Release

NBA News Release - Just days before this cancelation of...

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Company Letterhead For Release: Immediate National Basketball Association Cancels November Games Since the end of last season, the NBA and its players have been in hostile negotiations pertaining to the establishment of a new collective bargaining agreement. Meetings have been held on a weekly basis in New York City in hopes to salvage the NBA season. As another month passes with no settlement, Commissioner David Stern has been forced to announce that there will be no games through November 31 st . The possibility of an 82- game season is now lost. According to the previous agreement, 57 percent of the profits were given to the players causing 22 out of 30 teams to lose money last season. Stern insists an even 50-50 revenue split. The players refuse to negotiate anything below 52 percent.
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Unformatted text preview: Just days before this cancelation of games, Stern said that it would be considered a failure if an agreement was not reached by now: "We're going to have to recalculate how bad the damage is," Stern said. "The next offer will reflect the extraordinary losses that are piling up now." There is no scheduled meeting between the NBA and players association to continue negotiations. On November 11, 2011, team owner, Mark Cuban, and former coach, Phil Jackson, will join Commissioner Stern to address the media and answer any inquiries pertaining to the lockout. The conference will take place at The Naismith Memorial Basketball Hall of Fame beginning at 4:15 pm. For further information: Contact Sherisse Peterson Job Title Phone Number...
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