NBA Players Reject Latest Offer, Season Unlikely
NBA players rejected the latest offer from owners Monday, initiating the disbandment of the union.
The NBA presented a revised proposal to the Players Association on Friday, after lengthy negotiations.
The new proposal had granted the players 50% of Basketball Related Income each year, and was structured to create an active market for free agents, which the players had demanded.
The proposal also allowed teams unlimited use of the Bird Exception, which enables them to re-sign current players.
NBA Commissioner David Stern said any NBA games are unlikely at this point.
"It looks like the 2011-2012 season is really in jeopardy," said Stern in a interview with ESPN on Monday.
By rejecting the final offer, players are forfeiting paychecks, and for some, their careers.
The NBA tweeted Sunday "If decertification occurs, players' contracts would become void."
Missing an entire season will have crippling long-term financial ramifications on the league.
But just as troubling as the loss of money, is the inevitable loss of fans who have been long-angered by the season's postponement and now face a basketball season with no games.
"We'll do what we can to win [fans] back," said Stern, adding "I'm sorry, I wish we hadn't done this, but it's [the players] choice."
Stern criticized the players' decision as "very unwise", calling their rhetoric "almost humorous."
The issue will likely head to court, "We're prepared to file this antitrust action against the NBA," union executive director Billy Hunter said.
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