NBA Commissioner David Stern announced Monday night that the first two weeks of the season would be canceled, making good on his threat, as owners and players failed to reach a deal. After thirteen hours of negotiations over a two-day period, Stern said, “both sides are very far apart and there is just a gulf which separates us.”
Postponement of the first two weeks of the seasons means 100 games have been canceled.
The players have been locked out by the owners since July 1, when a deal was unable to be reached, before the end of the old collective bargaining agreement. Opening night was scheduled for November 1.
Hundreds of millions of dollars will be lost with the postponement of the season. Some estimates suggest players could lose about $350 million per month, while owners, for each couple of weeks, that figure is well over $200 million.
Cities too, will lose millions and arena workers will likely be made jobless, in view of the cancellation. It is not clear yet what the loss would be for the City of Orlando.
Observers say, it could be at least December before there is any action on the courts.
