At 3 a.m. on November 26, 2011, the NBA owners and players reached a deal on a new labor agreement, ending the 149 day lockout. The deal calls for a 66 game season in 2011-12, that will begin on Christmas Day, December 25, 2011. -Joe Dorish of Yahoo

The drawn out NBA lockout is close to an end. After 15 hours of negotiation that started on Friday, a  tentative agreement, a handshake, has been reached between the NBA owners and players. In this agreement, everyone wins, owners, players and FANS.  There is now a 50-50 split of NBA revenue between players and owners, whereas before players received 57%. The 7% is equivalent to about $300 million, still leaving NBA players the highest paid athletes. (Who Knew?) This agreement is good for 10 years! This means fans won’t have to suffer from NBA withdrawal for at least another 10 years.