NBA cancels first two weeks of regular season

NEW YORK – NBA commissioner David Stern cancelled the first two weeks of the 2011-12 regular season after several hours of meetings on Monday failed to result in a new labor deal.

Stern said he was cancelling all scheduled regular season games through November 14.

“Despite extensive efforts, we have not been able to reach a new agreement with the players’ union that allows all 30 teams to be able to compete for a championship while fairly compensating our players,” the NBA said in a statement.

Stern added the two sides are not even close on the numerous key issues that need to be resolved.

“We just have a gulf that separates us,” Stern said.