NBA Owners Hold 20-Minute Conference Call Update Meeting

29 NBA owners (the NBA currently owns the New Orleans Hornets) held a 20-minute conference call on Thursday to discuss the state of the NBA lockout’s labor situation.

According to a source close to the talks David Stern was just offering an “update call” with no strategy moving forward for discussions and no plans announced for future meetings.

ESPN’s source also revealed that players acknowledged that talks with players must resume quickly in order to save the remainder of the 2011-2012 season which is already in it’s 140th day of lockout talks although the source added:

“There’s just not enough time … I imagine that another effort (at negotiating) will be made toward the end of December.”

Players on Monday rejected a 50-50 split of revenues and announced that they would disband the player’s union and take the league to court for antitrust.

Following the complete breakdown in talks NBA owners on Tuesday canceled games through Dec. 15, effectively eliminating 324 games from the leagues schedule.

Speaking about Stern’s last offer of a 50-50 revenue split the source said:

“No one wants to miss the season, but about half of the owners are willing to miss the season if it means fighting for a better deal.”

Among team owners who didn’t want the 50-50 deal was Bobcat’s owner Michael Jordan.

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