Stern says owners' proposal would've raised average player salary from $5-$7m/year.
Stern: Yes, cancellation means no chance of an 82-game season.
Stern: No more meetings scheduled at the moment but we'll be in touch.
Stern: we couldn't close the gap. ... underpinning was union was at 53 and we were at 47 ...
Silver: What's separated us over the past two days are not economic issues, but the system.
Stern says further negotiations have to "account for the losses we are incurring" by canceling games.

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