According to a person familiar with the negotiations, the owners and players met initially at about 2 p.m. ET and broke up to discuss the situation privately among themselves.

The players were furious at seeing first hand the owners' offer of 46 percent of basketball-related income (BRI), down from their previous level of 57 percent, were unanimous about what to do.

"Let's go," one of the players said, according to a source. "There's no reason to go back in there."

The players decided to return to the bargaining room with a much smaller group.

Among those joining Derek Fisher for the second session were LeBron James, Dwyane Wade, Carmelo Anthony, Kevin Durant, Baron Davis and committee member Chris Paul. None of the players joining Fisher sat down during this portion of the talks, a person with knowledge of the meetings said.

It was at this point Wade took exception to David Stern's tone and gesturing.