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NBA Lockout: Players' Union Won't Accept Ultimatum Deal, Open To Negotiations

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Derek Fisher, the president of the players' union, told reporters on Tuesday afternoon that after meeting with representatives from 29 of the 30 teams, he will reject David Stern's NBA lockout ultimatum. Stern had offered a 50-50 revenue split and some additional salary cap restraints, giving the union until Wednesday to take it before the league's proposal got worse.

Fisher did say the union remains open to negotiating with the league on system issues that could make a 50-50 revenue split more palatable.

"We're open-minded on potential compromises on the number, but there are things in the system that are not up for negotiation for us to have a season," Fisher said.

The last remaining system issues include a smaller mid-level exception for luxury tax teams, an additional penalty for teams that exceed the tax line multiple times in a short span and a ban on sign-and-trade deals for tax teams. The union feels that these mechanisms will drop players' negotiating power and constrict player movement.