(Reuters) ? NBA commissioner David Stern has set a deadline of 5:00 p.m. EST Wednesday for players to accept his latest offer -- or get a worse deal on the table - but the players union say they will not back down in the dispute.
If the stalemate isn't broken, yet more games of this already delayed season could be canceled but hope has not been lost for a deal to be struck to end the lockout.
The league has offered a 50-50 split of basketball-related income (BRI) and Stern has said the offer will switch to 53-47 in favor of the owners unless an agreement is reached.
The union (NBPA) says it is willing to move close to the owners on the revenue split but wants to see the same in return on 'system issues', mainly relating to the salary cap system.
"The current offer that is on the table from the NBA is not one that we can accept," said union president Derek Fisher after a meeting with player representatives on Tuesday.
"Our orders are also clear that we're willing to continue to negotiate and we are willing to continue discussions on potential compromises on our economics for some continued improvements in the system."
The owners claim the NBA lost $300 million last season with 22 of its 30 teams in the red and they have demanded a reduction in the players' share of income which was 57 percent under the prior deal and they also want a firm salary cap and shorter contracts.
The league has canceled all games up until the end of November and there are fears that Christmas games could come under threat if a deal is not reached promptly.
Stern was blunt in his response to news of the union's stance on his offer.
"Our proposal on the table now goes away. Our next proposal will then go to the players, and we will see where negotiations go," he said.
However, there may yet be time for talks on Wednesday or an extension of the deadline to allow for further negotiations.
Reports have suggested different factions emerging on both sides - some players, led by Boston Celtics' Paul Pierce have been collecting signatures toward a union 'decertification', which would allow for legal, likely antitrust, action against the NBA.
On the owners' side, some media reports have said there are owners who want a still further owner-friendly deal than the one Stern is offering.
(Editing by Rex Gowar)
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