"We're optimistic that the NBA season will come to pass on December 25, Christmas Day, with a triple-header," NBA commissioner David Stern confirmed during a press conference that followed a 15-hour negotiating session in New York City.
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Although specifics about the deal are still vague, NBA players and Hollywood stars alike were elated about the news and took to Twitter to share their excitement.
Holly Robinson Peete took a more practical approach, tweeting "Remember the end of NBA lockout means A LOT of jobs restored not just about rich players, owners and lawyers #goodthing."
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Comedian Bill Bellamy elicited quite a few laughs when he wrote, "The NBA Lockout is over!! Yes! Lawd Is Good! Yesterday was Black Friday! now we have Black Basketball!!! Gotta Love it!!"
Perhaps Carmelo Anthony of the New York Knicks summed it up best writing, "SHOWTIME!!!!"