The National Basketball Association's season is major jeopardy and appears to be less likely than before. The players' union rejected the league's latest collective bargaining agreement compromise and completely disbanded.

NBA players described the latest agreement as extremely unfair and are prepared to bring NBA owners to court for an anti-trust lawsuit.

This is not a strike. We've continued to want to go to work, want to get back to work, want to negotiate a fair deal, but that process has broken down, said National Basketball Players Association President Derek Fisher, according to NY1.com.

As both sides continue to fight over millions of dollars, local business owners near Madison Square Garden will suffer.

I know there's a lot of excitement now because the Knicks are expected to be much better that they have in the past, but any time you have 16,000 people missing from across the street, you're going to notice it a little bit, said Sean Ryan of Lucy's Cantina Royale, according to NY1.com.