Alarmed by the bad economy and struggles of a number of the league’s 30 teams, NBA owners continued to paint a bleak financial picture Tuesday in Manhattan when they opened labor negotiations with players on a new contract.

Ten owners, including the Knicks’ James Dolan, used the 3-1/2-hour meeting to potentially lay the groundwork for major changes in the current system that pays players 57% of basketball-related income. Read the full story