The recession is real. First the NFL and now the NBA are taking a financial hit. The NBA announced that they’ll be implementing a work stoppage. Players have been informed and apparently so has the press.
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Via Salt Lake Tribune:
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Owners informed players that they have approved a work stoppage, CBS Sports reported, ending nearly two years of collective bargaining agreement (CBA) negotiations.
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Representatives for NBA owners and players met Thursday in New York, converging for the final time in an attempt to agree upon the framework of a new CBA or at least extend negotiations past a 10:01 p.m. Mountain Time deadline.
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The meeting lasted a little more than three hours and reportedly featured NBA commissioner David Stern, deputy commissioner Adam Silver, NBPA executive director Billy Hunter and NBPA president Derek Fisher, among others. But some of the biggest names guiding a league that annually takes in about $4 billion in revenue were unable to keep the game going.
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Oh wow! It’s getting real folks!
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