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NBA Lockout Update: Sides Make More Progress, David Stern, Billy Hunter Optimistic

The NBA appears to have made significant progress towards reaching a deal with the players union on a new collective bargaining agreement Thursday night after a long day of talks between the two sides. The meetings went so well that the two sides have scheduled meetings for Friday as well.

After the talks, all parties appeared to be more lighthearted and optimistic that a deal could be reached. Billy Hunter, the Executive Director of the NBA Player's Association, had several things to say about the negotiations. Including this tidbit about Commissioner David Stern's mood.

"I think we're within striking distance of getting a deal."- Billy Hunter

This talk was just the latest of many negotiations the two sides have had, as little progress had been made to this point. But the major difference that has both sides feeling a little better about the prospects of a deal is that the owners have backed off a clause that would require a 50-50 revenue split between owners and players, which was a major point of contention.

"We were able to work through a number of different issues today regarding our system," union president Derek Fisher said. "We can't say that major progress was made in any way, but some progress was made on system issues. Obviously enough for us to come back."

According to a tweet by Adrian Wojnarowski, "Commissioner Stern agrees it would be a failure of those in the room if no deal could be reached within the next few days."

Stay tuned to SB Nation and SB Nation DC for more updates on this evolving situation.