NBA players have been locked out after both sides failed to reach a new collective bargaining agreement.  The move could put next season on hold.  Both sides say they are losing money and can’t agree on a new pact. 

The latest action means that two of the four major professional  sports in the United States are locked out.  The NFL  locked out its players in March.  Both sides have been meeting this week in an effort to craft a new deal.

The collective bargaining expired at midnight.

It means all league business is on hold, starting with the free agency period which was due to open Friday.

[ESPN.com]