After 30 hours of negotiations with mediator George Cohen it seemed like a lot of progress had been made. The players had come off their 53% stance and had proposed an agreement that depending on revenue would provide the players no less than 50% (the owner's offer) and no more than 53%. Instead of accepting this compromise, the owners reversed course and went back to their 50/50 ultimatum. Take it or leave it. Basically the owners wasted everyone's time.
I'd be pissed if I was George Cohen. You can't mediate if one side won't negotiate. There's one small group of about 5 owners that would rather cancel the season then to compromise even the slightest bit. Unfortunately Celtics owner Wyc Grousbeck is in that group, which is disheartening as a fan especially considering this season could be the last shot the Celtics have at a title for a long time.