NBA Commissioner David Stern warned the players that if they did not accept his latest proposal--the terms of which include a 50-50 split among other things--by 5:00 p.m. ET on Wednesday that they would be given a far less favorable deal. Player representatives from all 30 NBA teams met on Tuesday and rejected the proposal anyway. Union president Derek Fisher says the players are still open to negotiations:
"We're open-minded on potential compromises on the number, but there are things in the system that are not up for negotiation for us to have a season," Fisher said.
Will Stern make good on his threat? Billy Hunter doesn't think so, and said he expects the 50-50 deal to remain on the table. Hunter also said he's going to try to set up a one-on-one meeting with Stern Wednesday, so that's a bit of encouraging news amid the latest developments in this stalemate.