NBA players are not happy with the latest formal collective bargaining proposal from the league's owners, saying the new offer of a 10-year deal is only marginally different from the original one the owners made.
In their initial proposal, the owners sought a reduction of nearly $800 million in salaries for the 2011-12 season. Players were paid a total of approximately $2.1 billion this season, and commissioner David Stern said last month that the league is projecting a $300 million loss for the current season.
The union has disputed that number, saying a majority of those costs are attributable to depreciation, along with interest payments on loans used to finance the purchase of teams.
The owners' new proposal still seeks a similar financial cutback, though it would be phased in during the first two seasons.
"We are taking a close look at each piece of the proposal, and I along with my players and executive committee will be determining what next steps best move this process forward," Fisher said. "I continue to work on this daily, take this very seriously, and have a responsibility to my players to try and get a deal done."