The NBA Lockout Is Officially Over!

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Good news basketball fans! Representatives for the owners and players of the National Basketball Players Association were able to reach, what they call, a “tentative” agreement early Saturday to end the 149-day old lockout. At risk of losing the entire season and lots of money, an agreement was reached to kick off the season on Christmas Day, Dec. 25.

The negotiation went on for a painstaking 15-hours before league representatives and players came together in a joint news conference around 3:30am to make the big announcement.

“The reason for the settlement was we’ve got fans, we’ve got players who would like to play and we’ve got others who are dependent on us,” NBA commissioner David Stern said. “And it’s always been our goal to reach a deal that was fair to both sides and get us playing as soon as possible, but that took a little time.”

Although the details remain vague, the players agreed to a compromise that would include a 49-51 percent split of basketball-related profits. The league will open training camps on Dec. 9 and have a 66-game season beginning on Dec. 25 with three games: Boston at New York, an NBA Finals rematch of Miami at Dallas, and Chicago at the Los Angeles Lakers.

Source: Washington Post/NY Daily News