David Stern says lockout losses will impact future negotiations.
NBA Commissioner David Stern warned on Friday that proposals between owners and the NBA Players Association would only get tougher as the league must make up the hundreds of millions of dollars lost as the lockout lurches on.
"We're going to have to recalculate how bad the damage is," Stern said, according to the Associated Press. "The next offer will reflect the extraordinary losses that are piling up now."
The ominous prediction came along with Stern’s announcement on Friday that all games through November had been canceled. He had previously canceled the first two weeks of the season, and now, a full month of games have gotten the ax.
The move came after both sides refused to budge on how to split the league's revenues, the same issue that broke up talks last Thursday. Union executive director Billy Hunter said the league again insisted it had to be split 50-50. According to reports, Stern said Hunter walked out and left rather than discussing going below 52 percent. On Thursday, both sides appeared optimistic about reaching a deal in the upcoming days.
Owners are insistent on a 50-50 split, while players proposed they get 52.5 percent, which comes to a difference of about $100 million annually. Players were guaranteed 57 percent in the previous collective bargaining agreement.