NEW YORK -- NBA owners and players are holding a bargaining meeting hours before Commissioner David Stern's deadline to accept the league's latest proposal or face a worse one.
The sides still are divided over changes to the salary cap system, as well as the division of basketball revenues. The league is seeking a 50-50 split, down from the 57 percent players were guaranteed under the previous deal.
Players said Tuesday they wouldn't accept the proposal as configured and asked to negotiate again before the Wednesday afternoon deadline, which Stern set early Sunday morning after the last round of negotiations.
He said if there's no agreement by the end of the business day, the league would propose a 53-47 split of revenues in the owners' favor, along with essentially a hard salary cap.