NEW YORK -- After canceling the first 16 days of preseason two weeks prior, the NBA has officially canceled the entirety of the 2011-2012 preseason due to the ongoing labor negotiations and lockout.
The decision comes after talks broke down Tuesday after nearly four hours of negotiations between the two sides.
"We were not able to make the progress that we hoped we could make," NBA commissioner David Stern said. "We were not able to continue the negotiations."
The cancellation now includes the Oklahoma City Thunder exhibition game scheduled for Oct. 21, 2011 for the BOK Center in Tulsa, Okla. Tickets were not available for sale to the public, so refunds will not be necessary.
The NBA Lockout began July 1 as the collective bargaining agreement between the NBA owners and the National Basketball Player's Association ended and the two sides failed to agree on a myriad of issues.
If an agreement is not reached by Monday, the NBA plans to cancel the first two weeks of the regular season, and no meetings are scheduled in the interim.