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NBA Lockout Update: Talks Break Down, Further Cancellations Appear Imminent [UPDATED]

It's sort of like the part of a zombie apocalypse where factions declare a truce and start working towards building a future.  An observer might ask, 'What does it look like?' And you would answer, 'Less bleak.' Things were certainly looking less bleak after some significant progress in yesterday's session.  No more.

Mediation talks between NBA owners and players broke down on Thursday, and no future meetings are scheduled, league sources told Yahoo! Sports.

via Woj

Two steps forward, one step back? There's been no announcement yet regarding further cancellations and it's impossible to speculate on what might be coming down the pike until we know what caused talks to break down. No future meetings being scheduled is particularly ominous, and one wonders if one side or the other finally threw down the gauntlet with respect to the BRI. More on this story as information filters in from New York.

This is all from the Twitter feed guys and gals:

NBA mediation talks break off. Deputy commissioner Adam Silver: "We’re saddened on behalf of the game...We were unable to bridge the gap."
With the NBA standing firm on an offer of a 50-50 revenue split, talks ended, source tells Y!
via Woj
Adam Silver: "They made it clear if we wouldn't move off 50 percent, there was nothing else to talk about." He said players moved to 52.5.
via Woj
Adam Silver said union told league that if it couldn't move off 50 percent, "there was nothing else to talk about." Hard times ahead.
Holt on owners willingness to go distance in fight for "competitve balance": "There are certain things we must have..."
via Woj
Derek Fisher: "You guys were lied to earlier." Boom!
Billy Hunter saying again that this whole process was "pre-ordained" to break the union. Says owners gave union "ultimatum" on 50-50 split.

Hunter says players won't accept the 50-50 split until players know what the system -- lux tax, exceptions -- lools [sic] like.

Hunter says owners told them they wouldn't negotiate on the system issues, until players agree on 50-50 split.
Fisher: "We made several moves on the tax...Brought it down...They're dead set on running the table."
Hunter: "Adam is not being truthful if he says he came in hopeful. There's no way they came in thinking that would fly..."
Hunter: "The bigger market (owners), the guys who want to cut a deal, don't have the votes."
Union attorney Jeff Kessler: "Something happened in that Board of Governors meeting. Yesterday we thought we were moving toward a deal..."
Kessler: "They were carrying out a mandate they were given. This is a sad day for fans, because someone in that BOG was sent ...."
The end of that previous Kessler quote should've ended: " blow off the fans, blow us off."
via Woj
I don't think fans understand owners are trying to establish a system that removes nearly everything players were used to having for 12 yrs
For all the momentum that had taken shape, the trust in these labor talks has been obliterated. Never been worse between the sides. Never.
via Woj
Remember when I said we were back to bleak? One of those factions cooperating to survive the zombie apocalypse has given the green light to cannibalism...aaaand, you're out of bullets. And even worse, no basketball.
P.S. via SB Nation's StoryStream...the icing on the cake...the mediator has called it quits.