I don't deny the owners that they have a right to attempt to negotiate terms they find favorable. That being said, their bargaining postion has been nothing more than an elaborate sham, created simply for the purpose of making it seem they had legitimate reason to pay the players less.
If it's all a sham, why are the players willing to concede as much as 7% of BRI? Why has Billy Hunter talked about covering the owners' losses, and "making them whole"?
The league has provided its professionally audited financial statements to the players. The auditing firm is jointly retained by the owners and the players. It seems like the owners and players are in agreement that the league is losing a lot of money. If that's the case, how can you be so convinced this is a "sham"?
I think the answer to your first question may be that the players do actually want to play basketball and have a season so they have been willing to make concessions.
As to the league claiming to lose over $300 million, I don't buy it, but I have to admit that I don't fully understand it. I have read reports of them using tricky yet legal accounting loopholes to make it look like they are losing money because their teams are depreciating in value when in fact NBA teams never depreciate in value. Look at any recent sale of an NBA team, and you'll see that it sold for considerably more than it was bought for.
Even with a 50/50 split in BRI and all the cap and exception rules that the owners want in place, according to the league and the owners themselves, the rich would still continue to get rich while the small market teams would still continue to struggle to stay afloat. Revenue sharing might fix this, but that's an issue amongst the owners, not something that can be fixed by taking more away from the players.
What bugs me about the league and owners' public stance on this is the claim that the lockout is about fixing a broken system of inequity among the owners. I'm not denying that inequity among big market and small market teams exists, but the battle with the players over the CBA is not about fixing that. It's about maximizing profits (or even minimizing losses, if you believe their financial figures).
Stop lying, NBA. The Minnesota Timberwolves and the New York Knicks aren't going to be on equal footing just because the league keeps more of the money its been paying in salary. Everybody knows that, so I wish they would stop pretending that the lockout is about something it's not.