NBA lockout talks have ended for the foreseeable future, and players' union president Derek Fisher and director Billy Hunter sent a letter to players to explain why. According to tweets from Yahoo!'s Adrian Wojnarowski, the letter asserts that the union will not back down from its current proposal, which reportedly would cap player salaries at 53 percent of the established definition of basketball-related income.
Union letter: "Reducing our share of BRI by 7 points to 50% -- a level we have not received since the early 1990's -- is not a fair split."
Woj also reports that the letter states that negotiations are "far from over," despite the union apparently ending talks on Tuesday after the league offered a "concept" that would cap player salaries at 51 percent.
Basketball-related income, as currently defined, does not include about $500 million of revenue that owners take off the top. The NBA, according to reports, had sought to increase that pool to $850 million in some proposals made on Tuesday, with the remaining revenue being split 50-50. If you include the $500 million not included in basketball-related income, the union has actually proposed a deal that would cap players' salaries at 46.8 percent, based on last season's numbers.