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Well, here it is.
WojYahooNBA Adrian Wojnarowski
Meeting is over, and lockout will start at 12:01 AM.
1 minute ago
NEW YORK -- Union chief Billy Hunter says owners are locking out players after failing to reach a new collective bargaining agreement, potentially putting the 2011-12 season in jeopardy.
Despite a three-hour meeting Thursday, the sides could not close the enormous gap that remained in their positions. The CBA was due to expire at midnight.
Hunter said the union made a "moderate" new financial proposal, but it wasn't enough to keep the two sides at the bargaining table.
Hunter said the two sides plan to meet again in the next two to three weeks.