David Stern’s NBA deadline passes… and they are still talking

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David Stern threw down an ultimatum last Saturday night (early Sunday morning, actually) — accept our deal by 5 p.m. Wednesday or we are going to replace it with a deal so bad for players we might as well cancel the season. Okay, he didn’t say anything about canceling the season, but he might as well have.

Well the deadline has come and gone…. and nothing.

The owners and players are still negotiating in New York through the deadline. They had met for more than four hours Wednesday as of this writing.  The reality is the deadline was artificial anyway, so long as the sides are talking and making some progress they will keep going at it. Consider it the Alan Jackson/Jimmy Buffett theory — It’s 5 O’ clock Somewhere.

If the talks blow up again maybe Stern will pull the current offer and put off the rollback offer out there, but for now nothing.

For now, we wait.

The players rejected the owners offer as is saying they would consider a 50/50 basketball related income split so long as the owners gave more on system issues such as the mid-level exception and luxury tax issues. Stern can make some tweaks to the offer, but not big ones.

We sit and wait to see if that is enough.