(Wall Street Journal) — NBA owners locked out their players Friday after labor negotiations collapsed, threatening the upcoming basketball season. Owners and players met in New York Thursday for a last-ditch negotiating session as the contract expired at midnight, but failed to reach a resolution on key sticking points —including salary cap parameters and revenue splits. NBA Commissioner David Stern and players union head Billy Hunter said the two sides remained far apart in their fight over how to divide about $4 billion in league revenue. The owners say they are losing money and want a bigger share. The players say they are willing to make concessions on salaries but don’t want to give up as much as the owners are asking.
