Updated: November 9, 2011, 6:10 PM ET

NBA/NBPA Meeting In New York

Lockout: Frequently Asked Questions

By Larry Coon
Special to ESPN.com

Saturday's breakdown of the NBA labor negotiations came with an ultimatum from the league: The players have until close of business Wednesday to accept its latest proposal, or else it will reset its offer to where it was months ago -- including a 47 percent split of revenues for the players and a "flex" cap system that the union already dismissed as a hard cap in disguise.

In the meantime, the players have been trying to find a way to fight back. A number of players, led by stars such as Paul Pierce, have explored decertifying the union as a means to gain leverage. According to ESPN.com's Marc Stein, the players hoped to collect enough signatures by Tuesday to file their petition with the National Labor Relations Board and get the ball rolling.

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