The NBA owners and players talked for 30 hours over three days, and even with the help of federal negotiator George H. Cohen, the two parties were still unable to come to an agreement on salaries and revenue sharing.
With the first two weeks of games already canceled and no end in sight for the lockout, the rest of the 2011-12 season is not looking promising, especially with Cohen withdrawing from the process.
From The New York Times:
Hope for a deal is growing dimmer with every breakdown. The parties were deadlocked when the owners imposed the lockout on July 1 and have since broken off talks three times — on October 4, October 10, and Thursday. As the 2011 calendar shortens, the consequences increase, along with the gloomy rhetoric.
NBA commissioner David Stern has said the 2010-11 season was not profitable for the league, which lost nearly $300 million during that time.