NBA Lockout Talks: 'Today Was Not The Day' For Deal, Says Union's Derek Fisher

NBA lockout talks lasted for four hours on Tuesday in New York City before players' union president Derek Fisher, flanked by a number of NBA stars, told the media that the owners did not present a plan that players could approve. Fisher said further that the union expects the NBA to cancel the rest of the preseason soon and eventually delay the start of the regular season, slated to tip off on November 1.

Perhaps the most important news: the players' union and league are not expecting to meet on Wednesday to continue talks.

Fisher said that the league's offer was not "fair and amenable" to the players, and that the union finds itself where it expected to be all along: facing a shortened or cancelled season. Fisher also revealed that the players' union moved its proposed revenue split to 53-47, while the league moved to 47-53. In other words, each side wants 53 percent of league revenue in a new deal.

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