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NBA Lockout Update: Derek Fisher Says Union Will Reject David Stern's Ultimatum Proposal

After meeting with player representatives from 29 of the NBA's 30 teams, NBA Players Association president Derek Fisher said Tuesday that the union will not be accepting the latest proposal from the NBA's owners and commissioner David Stern. 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 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.