Breaking of the union happened because of this, and only this.
From following the progress of the lockout, the Union gave more and more concessions to the Owners. The BRI was significantly reduced as well, and what the players sought in return was tweaks to the NBA salary cap system. However, the owners wanted more than just the BRI. They wanted their own standards on the salary cap, which pretty much meant that, there was little wiggle room for the players.
So, because the players see the owners showing no good faith in their negotiations, they have disbanded their union, and are planning to have the law handle it. Basically a suit that will hope, the result will be in their favor of the owners being unfair, giving the players more room to operate.
However, going into this lawsuit means that a lot of time is going to be spent in the court room. As you know, cases aren't done within a week or two. It's gonna take a while, and by the time it's resolved, then the season will pretty much be over. The drop dead date for the 1998 lockout was January 6 I believe. So there's a date to circle on your calendar.
Also, if the players lose in court, then the owners (who are obviously "pissed") will be able to drive a harder bargain, meaning the players may end up taking a worse deal than they were offered now.
I should also note that some owners are against the tweaks to the system. Mainly the richer ones like Lakers, Mavericks, New York, Miami. The smaller markets are trying to install a competitive balance so to speak.