NBA Lockout Continues, Negotiations To Resume On Thursday

After a second day of talks NBA owners and officials from the NBA players union ended talks without a deal in place and the promise to resume talks on Thursday.

Talks will resume tomorrow at 2 p.m. ET with the league’s board of governors also set to meet on Wednesday night and Thursday morning.

Federal mediator George Cohen called off Tuesday talks that ran for 16 hours, on Wednesday he once again asked for a recess after mediators met from 10 a.m. until 7 p.m. on Wednesday.

At this time players and owners have been setup to meet in various forums including subcommittes and groups as large as 40 people.

According to Cohen:

“Everyone is extremely focused on the core issues, the difficult issues that confront them.”

Following the meeting NBA commissioner David Stern said team owners were already working on a more robust revenue sharing package among teams, a process that will be completed after a collective bargaining agreement has been met.

Stern has warned that a deal must be reached this week or he will be forced to cancel more games, Stern recently cancelled the first two weeks of the NBA regular season, eliminated 100 games from the league’s schedule.

Along with the revenue sharing system players would like to a better salary cap system put into place that will eliminate a hard cap.

Per Cohen’s request neither side is able to comment about talks, what is known at this time is that players have already lost $170 million in salaries by allowing the first two weeks of the season to expire.

Do you think players and owners will reach an agreement before the entire 2011-2012 NBA season is cancelled?