After the NBA owners and players met on Wednesday, news broke that there was no deal in place and the two sides would presenting their side of the meetings in separate press conferences. However, progress toward a deal was reportedly achieved:
"We can get there in the next day or two," one high-ranking league official briefed on the talks said. "But it’s still a volatile process, and egos can still get in the way. …But there’s a lot of reason to be hopeful."
According to one of Yahoo!'s Adrian Wojnarowski's never-failing sources, movement toward a deal was made on three system issues in particular.
David Stern's ultimatum deadline was Wednesday night, but that passed without any action. Stern said the clock had effectively stopped and the two sides would continue to negotiate matters today, hoping to get something done before more games need to be cancelled. While Stern hasn't yet presented the owners with any final draft of a deal, it is believed that the momentum is swinging toward a deal getting done.