NBA To Lockout Players Tonight

At 9:01 p.m., the NFL won't be the only professional sports league to lockout its players.
According to reports, the National Basketball Association will begin a lockout of its own, which many believe will be a long process that could affect the upcoming 2011-2012 NBA season.
Reports by the the L.A. Times state:

NBA Commissioner David Stern and National Basketball Players Assn. head Billy Hunter held a three-hour meeting Thursday in a last-ditch effort to avoid a lockout, but the session halted with the sides failing to reach a deal on a new collective-bargaining agreement for the 2011-12 season.
The union said the NBA plans to lock out its players, Hunter said. All league business, including free agency, is on hold.
Union executive committee member and San Antonio Spur Matt Bonner told the Associated Press: "We tried to avoid the lockout; unfortunately we couldn't reach a deal."
As a result, free agent signings, summer league play and all league business will be on hold as of 9:01 p.m. PDT, when the current labor agreement expires