NBA Cancels 114 Preseason Games
The NBA canceled 114 preseason games Tuesday. This announcement comes as the latest move in a three month lockout.
NBA owners and players have been at an impasse over salary and revenue packages.
NBA commissioner David Stern said last season was not profitable for most of the league's 30 owners who are looking to players to share cost-cutting measures. Stern says the league lost as much as $300 million in the 2010-2011 season.
Representatives from both sides are still in negotiation talks but no progress has been reported.
"We can only say we are running out of time so many times," NBA Deputy Commissioner Adam Silver said Monday.
This is the first lockout since 1998.