An NBA lockout is now a distinct possibility for next season, after talks collapsed between the league and its players' union. The current contract between the two parties ends June 30, and, though negotiations had progressed amicably, several issues now appear to be in dispute, most notably that of contract length. As no new talks are scheduled, it is unclear if and when a resolution will occur.
See "NBA Players' Union And League Break Off Labor Talks", Reuters, The New York Times, May 18, 2005