The NBA is giving the players' association until Wednesday to accept a deal over a new collective bargaining agreement after the two sides met for eight hours over the weekend.
The Saturday meeting was the first in eight days for the NBA and the National Basketball Players' Association after discussions broke off last month.
NBA Commissioner David Stern said the new proposal gives players between 49% and 51% of revenues. But the players' association rejected it.
"I think it's fair to say that, speaking on behalf of the union, (players' association lawyer Jeffrey) Kessler rejected the mediator's recommendations and our proposal," Stern told reporters early Sunday morning. "But hope springs eternal and we would love to see the union accept the proposal which is now on the table."
If the players' association does not change its mind by Wednesday, the NBA will offer up another proposal - one that offers players 47% of basketball revenues.
"We hope that this juxtaposition will cause the union to recess its position and accept the deal," Stern said.FULL STORY