NBA Locks Out Players Amid Collective Bargaining Disputes

The NBA says it is locking out its players until a new collective bargaining agreement can be reached. The lockout began at 12:01 EDT on Friday, after players and owners failed to reach a new collective bargaining agreement, potentially putting the 2011-12 season in jeopardy.

Deputy Commissioner Adam Silver says in a statement that the CBA ratified in 2005 has "created a broken system that produced huge financial losses for our teams."

Despite a three-hour meeting Thursday, the sides could not close the enormous gap that remained in their positions.

"The gap is too great," players union chief Billy Hunter said.

All league business is officially on hold, starting with the free agency period that would have opened Friday.

Hunter said he hoped the two sides would meet again in the next two weeks.

Games eventually could be lost, too. The last lockout reduced the 1998-99 season to just a 50-game schedule, the only time the NBA missed games for a work stoppage.

"We tried to avoid the lockout," union executive committee member Matt Bonner said. "Unfortunately we couldn't reach a deal."

The NFL has already locked out its players, and the two sides have been in discussions this week, trying to work toward a new deal.

Comcast SportsNet host Gary Tanguay joined Morning Edition Friday to discuss the issue and how it could affect the Celtics.