NBA Lockout 2011 – The exciting and popular NBA season comes with a price tag this time.The owners of the season have declared that they are losing a lot of money, which is over $300 million for the 2011 Lockout. The authorities clearly stated that with this loss and a lot more at stake they are not interested in the funding of this season now. They said that spending more money on a season that is bound to give less than it takes is sheer unprofessionalism and they won’t risk t this time.
Therefore the NBA Lockout 2011 season is in danger and as the work initiated in March is coming to a disappointing halt. Players and teams are equally distressed over this serious issue.
The NBA Lockout 2011 started at 12:01 EDT on Friday. It is expected to last until all the teams, players and owners have come to a collective and unified agreement that gives all the teams a chance to prosper and profit.
“We had a very good year in terms of the appreciation of our fans for our sport. It was not a profitable investment for homeowners, and it was not one that many small market teams particularly enjoyed or felt included in, the goal here was to League profitable and have a league where 30 teams can compete. Commissioner David Stern said in his statement.
Despite a three-hour meeting on Thursday and a proposal put forward by the players of NBA, there was no solid agreement established. Leaders had claimed that they would raise the salaries of the team players to over $7 million after the agreement finished its sixth year. The huge gap between them could however not be resolved in the Thursday talks.
“The problem is that there is such a gap in terms of numbers, where they are and where we are, and we can not find a way to bridge this gap,” union chief Billy Hunter said in his statement.