The NBA is getting serious about 2012, which could very well be the end of the NBA as we know it –at least if you believe the NBA lockout rumors. That’s right, the NBA, not the NFL. According to news stories online, including Fox Sports, NBA owners publicly stated that 22 of the 30 total teams lost money in the 2010-2011 season.

Reportedly, the losses were huge–up to $340 million. It’s not so hard to believe, especially if you’ve been to a live game within the past two years. Stadiums are not filled to capacity as normal. So what is the league’s solution? The owners desire to restructure the sports league’s business model. They also want a salary cap that would prohibit teams from going beyond the $62 million dollar mark.

This is big news, considering that the LA Lakers spent nearly $100 million on team salaries in just one season. Furthermore, league and team owners want to cut some eight billion dollars over the next decade. This is much more than players have offered: a half a billion-dollar salary cut over the next five years. Current negotiations are scheduled to end July 1, 2011 at midnight.

As usual, if the negotiations do not proceed, the league will pause all team games and events. Not only will there be no NBA games scheduled, but there will also be a halt on trades, players signing and all business contact. Experts are stating that the negotiations could easily continue past the summer, since most players are inactive in the summer. Charles Barkley commentated that the 2011 to 2012 season could very well be wiped out in lieu of the difficult negotiations taking place.

Miami Heat is certainly not delaying in addressing their roster concerns, fresh off of championship defeat at the hands of the Dallas Mavericks. Miami Heat Norris Cole was introduced to the team, toured the facilities, and met with coaches. He will also take part in a three day camp with fellow prospects. His future with the team is dependent on whether or not the season continues as planned. Other players that will attend the team’s summer camp include Chaisson Allen, Chris Daniels, Papa Dia, Marquez Haynes and John Holland.

Will we see a repeat of 2011 and see Miami Heat avenge their defeat against Dallas? Or will Miami have to wait two years (or more?) to settle the score?