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David Stern Cancels November Schedule, Rules Out 82-Game Season As NBA Lockout Talks Break Down

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David Stern announced the cancellation of the remainder of the league's November schedule and ruled out any possibility of an 82-game season after NBA lockouts broke down for the fourth time in four weeks on Friday. Stern alleged that players' union executive director Billy Hunter walked out of the talks as the two sides made no progress on the split of basketball-related income players will earn in the new deal.

Stern's press conference, part of which was carried live on ESPN's SportsCenter, hit familiar points, as the commissioner maintained that the league hasn't been profitable and that owners can go no further than a 50-50 split of revenue. Players earned 57 percent of revenue in the last collective bargaining agreement.

There are no further meeting scheduled. The season was originally scheduled to commence on Tuesday. Instead, representatives from the league and players' union will meet in federal court on Wednesday.