Sure looks that way. The players have just rejected the owners latest offer. Derek Fisher the Union player representative is on television, quite emotionally talking about the issue. He is announcing as we speak that the players have rejected the offer and will file an antitrust suit against the NBA and its owners.
Things looked positive on Friday, and everyone (even myself to some extent) were thinking that a deal was possible. It turns out that the two sides couldn’t come together after the weekend, and it looks like this might be the end of professional basketball in North America until Fall of 2012.
I think a lot more people might pay attention to college basketball this winter/spring as the premier sport to pay attention to, alongside the NFL.