Six years ago the owners signed a deal that gave the players 57% of league revenue. Now they want to cut it to below 40% (roughly an eight billion dollar paycut over ten years). I understand the league's economic situation has changed, and that this new number is just a lowball starting point, but we've got a very long way to go here. Could be 1999 all over again or worse.
Potentially devastating for the league. Record ratings for the playoffs and Finals, and now this. The NBA has a whole lot of casual fans, I'd say more than hockey or baseball, so a protracted lockout (or, worst case, a lost season) could really do some damage. A lot of people will stop caring.