The US cable broadcaster initially had a four-week period in which to reach a deal with the NBA before the bidding was opened up to the market.
However, the economic impact of the September 11 terrorist attacks has complicated proceedings with Turner reportedly unwilling to break the bank to retain the rights. Turner previously paid $890million (B990.87m) in a four-year deal for NBA coverage but has suffered from declining TV ratings and a weakened advertising market during that period.
The NBA is also in talks with NBC regarding a renewal of its TV rights contract. Many analysts believe that the return of Michael Jordan to the league is seen as a bargaining chip by the NBA in raising the price of its TV rights in the ongoing negotiations with both broadcasters.
Though neither of the broadcasters would comment on the proceedings, it is likely that the indefinite extension of the exclusive negotiating window has also been given to NBC.
The US sports industry is looking to the NBA deal as a precursor for future TV agreements for other franchises during this difficult period.
NBA commissioner David Stern stated: "I would say that we're going to have to be collectively imaginative to continue our strong network revenues in light of what current conditions seem to be. Literally, on a daily basis, they seem to be changing, and I would say not necessarily for the positive. But I still remain optimistic that the NBA will have a good television contract."
Should talks between the NBA and its existing broadcast partners break down, it is thought that Disney-owned networks ABC and ESPN would come into the equation for acquisition of the rights.
