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Sorry basketball fans but it looks like you won’t be watching any preseason games or the first weeks of the season!

NBA Commissioner David Stern has canceled the first two weeks of the season after owners and players were unable to reach a new labor deal and end the lockout.

Top negotiators for both sides met for more than seven hours Monday, returning to bargaining about 14 hours after ending talks Sunday night.

Stern says both sides are “very far apart on virtually all issues. … We just have a gulf that separates us.”

Stern, Deputy Commissioner Adam Silver, owners Peter Holt of San Antonio, Glen Taylor of Minnesota and James Dolan of New York, and senior vice president and deputy general counsel Dan Rube met with union executive director Billy Hunter, president Derek Fisher of the Lakers and vice president Maurice Evans of the Wizards, and attorneys Jeffrey Kessler and Ron Klempner.

Owners locked out the players July 1 when they couldn’t reach a deal before the expiration of the old collective bargaining agreement. Opening night was scheduled for Nov. 1.

The revenue split has been such a headache that the sides didn’t even discuss it Sunday night. Players were guaranteed 57 percent of basketball-related income in the previous deal and have proposed going as low as 53 percent, a reduction they say would transfer more than $1 billion to owners over the course of six years.

The league has asked for a 50-50 split, which the union rejected last Tuesday.

Do you think there’s going to be an NBA season at all?

via: EURWeb.com

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