NBA Labor Deadline Looms

As previously reported, labor talks for the National Basketball Association have been moving at a snail’s pace. So slow, in fact, that the league canceled all remaining preseason exhibition games Oct. 4.

“We were not able to make the progress that we hoped we could make and we were not able to continue the negotiations,” NBA Commissioner David Stern reportedly said.

Stern added that he will cancel the first two weeks of the regular season should players and owners fail to reach an agreement by Oct. 10.

While the league reportedly stands to lose $200 million with the cancellation of preseason games, losses are expected to soar should the lockout continue past the Nov. 1 start of the season, with venues, venue workers and food-service companies expected to take a big hit.