The NBA announced today that the entire 114-game preseason schedule has been canceled because a new collective bargaining agreement has not been reached with the National Basketball Players Association.

Representatives of the owners and players union met yesterday and today in New York City but were still unable to come up with an agreement.

It sounds like if there’s still no progress by Monday,  October 9 then the NBA may have to cancel the first two weeks of the 2011-12 regular season.

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