Hope? Nope.

Despite optimism about a collective-bargaining agreement being on the horizon leading into the day, negotiations broke down yet again Friday and the NBA announced the cancellation of games through Nov. 30 (the games through Nov. 14 already had been canceled). Commissioner David Stern added, "There will not be a full NBA season under any circumstance."

Sitting in the same posh Manhattan hotel conference room where he spoke with notable enthusiasm Thursday night, a much more subdued Stern sliced hundreds of millions in potential revenue off the table for the 2011-12 season and issued a warning to the players' union: "The next offer will reflect changed economic circumstances."

The belief going into Friday's talks was that if a deal could be completed by the end of the weekend, the NBA still could schedule an 82-game season with a Dec. 1 start. With no talks planned through the weekend -- union president Derek Fisher said he was heading home to Los Angeles -- Stern, after a conference call with the NBA's labor relations committee, agreed to give up fleeting hope for a full season.

"It's not practical, possible or prudent to have a full season now," Stern said.

It will be the second time in his otherwise prosperous tenure as commissioner that the NBA will lose regular-season games because of a labor dispute. The NBA had a 50-game season in 1998-99.

This announcement was somewhat stunning, considering the positive rhetoric that had been promoted only an evening before after the sides decided to break for the night and prepare for what was supposed to be a monumental day toward reaching an accord to end the lockout, which enters its 121st day Saturday.

Union executive director Billy Hunter said the media was "snookered'' by Stern's optimism. Fisher said the union did not want to cave to "artificial pressure to close out a deal today" but said the union was "hopeful that we can get back at this and try to close this out."

On Thursday night, Hunter said he was prepared to "spend as much time as we possibly need in the hopes of making a deal." But he led his side away from the negotiating table at about 4:30 p.m. Friday, just six hours into the session.

The sides spent more than 22 hours in two days of talks Wednesday and Thursday and appeared to be closing in on a deal. But once the hot-button issue -- the split of league revenue, or basketball related income (BRI) -- was broached, talks blew up just as quickly as they had a week earlier.

The owners again pushed the idea of a 50-50 split and the players reiterated their position was to not move any lower than 52.5 percent, which was a half-percent concession from their stance a week ago.

"We're not prepared to move," Hunter said. "We're not prepared to do anything else."

Hunter suggested that the owners, as they did last week, presented the 50-50 split in a take-it-or-leave-it stance, but Stern said he was never given the opportunity to negotiate off of that number. Curiously, when asked if there is any scenario in which the union would take a 50-50 deal, Hunter said, "Not today."

Stern then resurrected a controversial issue that still could be a factor in Hunter's unwillingness to work off a 50-50 split: a group of influential agents who represent some of the game's top stars who have insisted the union shouldn't make any more concessions.

"Billy said his phone and pager are ringing off the hook with agents," Stern said.

These agents, who represent star players such as Kobe Bryant, LeBron James and Carmelo Anthony, have continued their collective campaign against a 50-50 deal with the owners. In fact, earlier this month, Bryant, Kevin Garnett and Paul Pierce were in on the first meeting in which the owners made a 50-50 proposal and the players rejected the offer. Hunter alluded to this influence when he said, "Derek and I made it clear we could not sell a 50-50 deal to our membership."

Still, Hunter on Thursday said the sides "were in striking distance" of a deal. When reminded of this Friday, he said: "It could have been in striking distance if they had come to our number . . . We assumed that they were going to do it."

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