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The NBA will officially renew negotiations with its union today in New York. Players and owners are hoping to have an agreement "by the end of the playoffs," according to USA TODAY. Negotiations stalled after the resignation of Charles Grantham as NBPA Exec Dir. His successor, Simon Gourdine, will address the following key issues: the salary cap, the "Larry Bird exception," defined gross revenues, merchandising and licensing and a rookie salary cap. The players and the owners have a no- strike, no-lockout moratorium through the playoffs, but both sides realize the urgency of reaching a settlement. NBPA President Buck Williams: "We must get this resolved, before there's talk about a strike or a lockout. It would hurt us much more than it did baseball. I don't know if we could bounce back." NBA Commissioner David Stern: "We both know what we have to do, and we know the consequences of not doing it" (David DuPree & Roscoe Nance, USA TODAY, 5/4).