NEW YORK - Players union president Derek Fisher made it clear at a Tuesday press conference that it will not accept the NBA's current offer.
After meeting for 8 1/2 hours on Saturday, commissioner David Stern gave the players a deadline of Wednesday to accept a new proposal that included a split of basketball-related income to the players between 49 and 51 percent, depending on revenue projections from the league.
A total of 43 players -- 29 of the 30 teams represented -- were present at the player's meeting Tuesday to discuss the offer.
"The current offer on the table is not one we can accept," Fisher said.
Stern, who has already canceled all games through November, said the proposal included a compromise on a luxury tax and a variable mid-level exception.
If the players don't accept the deal by the close of business Wednesday, the next offer by the owners will be a 47-percent BRI for the players and a flex salary cap. Players were guaranteed 57 percent under the old collective bargaining agreement.
Union executive director Billy Hunter said he's hearing from the "underground" that the NBA will cancel games through Christmas if no deal is reached by Wednesday.
Fisher and Hunter both expressed the player's willingness to continue negotiations.
Reports surfaced over the weekend that the players have had discussions on possibly decertifying their union.
Hunter said there was "very little discussion about decertification."