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NBA Lockout 2011: Players Reject Latest Offer, Union To Dissolve

If there was any hope left that NBA basketball would be played this winter, it all went out the window on Monday afternoon. Billy Hunter and the NBA Players Association announced that the union has rejected the latest offer from league commissioner David Stern and the NBA, essentially a 50-50 split of basketball related income, and also stated that it has issued a disclaimer to all teams, effectively dissolving the union. 

With the players association now acting as a trade association, Hunter and company will now proceed to file anti-trust law suits against the NBA.

"We're prepared to file this anti-trust action against the NBA. We think that's the best situation for the players to achieve and get their due process," NBPA head Billy Hunter said, via NBATV (via SB Nation).

Derek Fisher, the president of the NBAPA, was also present and commented on the talks.

"A lot of individual players have a lot of things at stake in their careers and where they stand, so we feel its important to all our players ... that we not only try to get a deal done for today, but also for the body of players who will come into this league for this decade and beyond," Fisher said (via SB Nation).

For more NBA Lockout coverage, visit SB Nation and follow our StoryStream.