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NBA Lockout Update: Derek Fisher Says He Will Not Accept Commissioner David Stern's Ultimatum Offer

NBA Players Association president Derek Fisher will not be accepting the latest deal offered to him by commissioner David Stern and the league's owners, Fisher told reporters Tuesday afternoon. The deal in question included a 50/50 split of basketball-related income and came with an ultimatum from Stern that if the players did not accept the deal by Wednesday, the proposals offered them would be come increasingly worse. Fisher met with representatives from 29 of the 30 teams prior to coming to his decision.

Fisher said that though he would be rejecting the proposal offered him, he would consider a 50/50 split if the owners were willing to make accommodations for the players on other issues.

"We're open-minded on potential compromises on the number, but there are things in the system that are not up for negotiation for us to have a season," Fisher said.

Fisher is thought to be referring to the debate over a smaller mid-level exception for luxury tax teams and a ban on sign-and-trade deals for tax team, both of which the union feels would undermine players' negotiating powers.