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NBA Lockout Update: Labor Talks Break Down, Season Canceled Through Nov. 30

NBA Commissioner David Stern today (Oct. 28, 2011) announced the cancellation of all games through Nov. 30 following another breakdown in labor talks between the players and union.

ESPN has more:

Owners are insistent on a 50-50 split, while players last formally proposed they get 52.5 percent, leaving them about $100 million apart annually. Players were guaranteed 57 percent in the previous collective bargaining agreement. The players will not accept a 50-50 split, union executive director Billy Hunter and union president Derek Fisher of the Los Angeles Lakers said. "Derek and I made it clear that we could not take the 50-50 deal to our membership. Not with all the concessions that we granted," Hunter said. "We said we got to have some dollars."

Friday's "roadblock" centered around Basketball Related Income (BRI), the same sticking point that's plagued negotiations since talks began.

The two sides don't appear to be any closer to an agreement despite a marathon of meetings that took place throughout the week. Right now it's official, the NBA won't be able to play a full season.

And unless something drastic happens, they won't be able to play any season at all.

For more on Friday's labor talks click here.