Complex sentence: The 2011--12 Indiana Pacers season will be the 44th season of the franchise, and its 35th in the National Basketball Association (NBA) once the players and owners sign a new collective bargaining agreement ("see 2011 NBA lockout for more information").
Split into simpler sentences: The 2011--12 Indiana Pacers season may be the 44th season of the franchise, 35th in the National Basketball Association (NBA). However, the playing of the season is contingent on whether NBA team owners and players agree to a new collective bargaining agreement ("see 2011 NBA lockout for more information").