The NBA lockout has taken its first toll on the 2011-2012 season: as a result of talks breaking down between the owners and players at around 10:00 Eastern Time on Monday night, commissioner David Stern has officially cancelled the first two weeks of the season.â†µ
The two sides could not reach agreements on system issues involving contracts (both how guaranteed contracts should look and how long contracts should run for) and a hard salary cap. Negotiations also faltered on the issue of the revenue split, with the two sides discussing a 53-47 distribution (and even a 50-50 split, by some reports).â†µ
If players and owners do not come to an agreement soon, the new season start date of Nov. 15th could very likely get pushed back even further. Perhaps both sides will have more motivation to settle their differences with actual games on the line.â†µ
For more information, take a look at this article. Check back with SB Nation as the NBA lockout situation continues to develop.