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Sorry Heat Fans: NBA Season on Verge of Cancellation, Big Three's Contracts Could Become Void

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Will we have to wait until 2013 to see if LeBron James can make good on his promise of bringing back the NBA Championship to Miami? It's looking more and more like that may be the case.

Today, the NBA Players Union have rejected NBA Commissioner David Stern's latest offering and have made plans to disassemble the union and file an antitrust lawsuit. However, such a move could effectively void contract of NBA players, including James, Dwyane Wade and Chris Bosh.

"We're prepared to file this antitrust action against the NBA," said union executive director Billy Hunterat a press conference today. "That's the best situation where players can get their due process."

He also called the NBA's latest offering "extremely unfair."

"This is the best decision for the players," said Derek Fisher, president of the player's union. "I want to reiterate that point, that a lot of individual players have a lot of things personally at stake in terms of their careers and where they stand. And right now they feel it's important -- we all feel it's important to all our players, not just the ones in this room, but our entire group -- that we not only try to get a deal done for today but for the body of NBA players that will come into this league over the next decade and beyond."

The Players Union is now making plans to convert itself into a trade associate and will file a class-action lawsuit.

The latest offer by the owners and league put limitations on the spending ability of teams and limit player's free agency offers. Many feel the league's stance is a direct result of last year's free agency period which saw LeBron James and Chris Bosh joining Dwyane Wade with the Heat.

Though, if the players union disbands it could lead the desertification of the union, and that would effectively mean that all player's contract would become void. However, it's unclear whether the disbanding of the union could lead to such a scenario, according to the Sun-Sentinel.

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