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NBA Lockout 2011 Update: No Games Through Dec. 15, Players Miss First Paychecks

Without a collective bargaining agreement in place and no games being played, NBA players missed their first round of paychecks on Tuesday as the lockout continues. The players announced earlier this week that they've turned down the owners' offers and intend to disband and takes the league to court.

After weeks of negotiations that took numerous turns, NBAPA executive director Billy Hunter and union president Derek Fisher announced that team representatives voted unanimously to dissolve the players' union, and they expect to file an antitrust lawsuit against the NBA in the next day or two.

According to a CNBC report, the average player lost a check worth roughly $220,000 on Tuesday, and the amount of money that will be lost on both sides should only mount from here. I hope that all of you guys like college basketball.

For more Chicago Bulls and NBA updates, stay tuned to SB Nation Chicago. For the latest on the NBA lockout, head over to SB Nation Basketball.