NBA: Sides Fail to Agree, First Two Weeks Canceled

The first two weeks of the 2011-2012 NBA Regular Season have been canceled after the players’ union and team owners failed to reach an agreement on several labor issues.

NBA commissioner David Stern said games originally scheduled from opening night, November 1, to November 14 have been shelved due to the failure of the two parties to come up with a new collective bargaining agreement. Tickets already bought will be refunded plus interest, the NBA said in a statement. The refund covers games in the first two weeks of the season, as well as the pre-season games already cancelled earlier.

NBA Players Association president Derek Fisher of the Los Angeles Lakers said the cancellation was expected. “I continue to believe that we’ve been more than fair and reasonable in our approach. This is what we anticipated would happen, and here we are,” Reuters said citing a CBS online report. Among the main issues preventing the drawing of a new CBA is the owners’ demand that team shares in the league’s basketball-related revenue be increased from 50 to 57 percent, although NBA officials said owners were amenable to a 50-50 split.