The NBA has said that if the players did not accept this proposal, its next offer would be worse, with the league keeping more than half of all revenues. In the now-expired collective bargaining agreement players received 57 percent of all revenues.
Union executive director Billy Hunter said that the players are now prepared to file an antitrust lawsuit against the NBA, which can be done once the union is dissolved.
This new development greatly increases the chance that this season will not be played--and that the lockout could spill over into the 2012-13 season. As of Monday, the lockout has lasted 137 days.
Union president Derek Fisher said that the decision to reject the offer was unanimous, and Hunter called NBA commissioner David Stern's ultimatum about a deal "extremely unfair."
Did the players make the right call?