Two days of marathon negotiating sessions after David Stern and the owners' ultimatum deadline of 5:00 PM Wednesday did not yield an agreement in the NBA labor negotiations. What's on the table after these past two days could very well be the owners' last, best offer. If this offer is not agreed to, David Stern did indicate late Thursday night that the owners will follow through on their threat to hit the "reset" button and drop their offer to 47 percent of revenue for the players along with a hard salary cap.
Billy Hunter and Derek Fisher will meet with team representatives early next week, and accept or decline the offer likely on Monday or Tuesday. Stern was confident that the owners would ratify and approve the deal if the offer is accepted by the players early next week. If they do accept the deal, reports indicate that a 72 game season would begin on December 15th. The playoffs would be pushed back a week.
While "significant progress" has been made, the week ends with still no deal. With the ball squarely in the players' court, we will know plenty more early next week.
Stay tuned both here and at SB Nation's comprehensive NBA Lockout Stream for news and analysis about the labor impasse as it unfolds.