An NBA lockout was the league's "only option" at this point, said commissioner David Stern shortly after news broke that the franchise owners would institute a work stoppage beginning at 12:01 a.m. ET Friday. Stern and deputy commissioner Adam Silver spoke in a televised press conference just before 4 p.m. ET Thursday.
Silver said that even the last-ditch bargaining remained concillatory; the sides will reconvene at the staff level on Tuesday to continue discussions. More bargaining could comes in the following week.
Stern appeared exhausted by the issue, but said the decision made Thursday didn't necessarily strike fear into him with regards to potential damage to the NBA.
"I'm not scared, I'm resigned to the potential damage it could cause to our league," Stern said.
The NBA Players Association made an updated proposal on Thursday, one that Stern claimed would have increased average salary six years into the deal. It's unclear whether that's an accurate representation of the union's proposal. Stern said the NBA provided no new proposal in Thursday's session.