( CNN ) -- There has been no change in NBA players ' position in the face of an ultimatum from the owners as the two sides try to reach a collective bargaining agreement , the president of the players ' association said Tuesday . `` There is n't any player that wants us to take a bad deal , '' Derek Fisher said . The league on Sunday gave the players ' association until Wednesday afternoon to accept a deal after eight hours of meetings over the weekend . Fisher said Sunday that the offer was not acceptable , and he reiterated Tuesday that the players ' association is holding firm . `` That does n't mean we wo n't continue to negotiate , '' Fisher said at a news conference after a meeting of players representing all but one of the NBA 's teams . NBA Commissioner David Stern has said the newest proposal gives players between 49 % and 51 % of revenues . If the players ' association does not change its mind by Wednesday , the NBA will offer up another proposal -- one that offers players 47 % of basketball revenues . The current proposal says that if the league exceeds certain revenue forecasts , the players would receive 51 % . If it did n't , the share would fall to 49 % . But Fisher said Sunday that `` there 'd be no way in the world we 'd ever get to 51 % '' under the provisions . The players ' association 's executive director , Billy Hunter , told CNN sister network TBS that Tuesday 's meeting was intended to spell out the details of the owners ' proposal , which they were `` misunderstanding '' based on media reports that focused on the revenue sharing offer . Once they heard the details of the proposal , he said , `` they were all horrified by it . '' He said it would `` decimate '' gains made by players in recent years . Hunter said he is likely to meet with Stern before the owners ' deadline Wednesday to see if there was any movement in their position . Fisher , during the news conference , said the players are confident an agreement giving players a better deal would still be possible despite the owners ' ultimatum . The NBA season has been canceled through at least November 30 , and the two sides are hoping they can reach a resolution before more games are called off . Stern has said the 2010-2011 season was not profitable for most of the league 's 30 owners , who want cost-cutting help from players . The league lost as much as $ 300 million last season , according to Stern . One of the battles has focused on the owners ' rejection of calls by the players ' union for an average $ 7 million player salary in the sixth year of a new labor deal . The current average salary is about $ 5 million . Other big issues include a fight over a move by owners to gain the bigger share of revenues and whether the NBA will strengthen its salary cap . The league 's owners began a lockout of players in early July .
` ` There is n't any team that wants us to sign a bad player , '' NBA ##PA president Derek Fisher says . Today 's meeting was to explain the owners ' latest offer to player representatives . The owners have given us a Wednesday deadline to accept the offer .