from the CP at CBC,

Thursday's talks were held at the offices of a midtown Manhattan law firm. So far, the sides have had little to say publicly about how the discussions have gone.

Sources told The Canadian Press that the Players' Association tabled an offer Wednesday night regarding revenue sharing and the league's "make whole" provision, which is designed to ensure all existing contracts are honoured in full. It is seen as the fundamental issue left to solve with the NHLPA having already agreed to see the players' share in revenue reduced to 50 per cent during the next CBA.

The union views that as a concession of more than $1 billion US because that's how much more players would earn if it remained at the current level of 57 per cent.

The league responded to the players' offer on Thursday, with Gary Bettman saying there's "still a lot of work to do."

With all regular-season games cancelled through Nov. 30, negotiations have reached a critical and delicate stage. Ten days will be needed from the time an agreement is struck until the season starts and there is still hope among the parties that a shortened schedule could begin by Dec. 1.

For that to happen, signs of progress need to emerge soon.

read on