New York - The National Basketball Association and its players' union met on Thursday to discuss the league's collective bargaining agreement.
Both sides issued a joint statement after discussions concluded.
"The NBA and NBPA held a four-hour bargaining meeting today that included constructive dialogue and a productive exchange of information. While we still have much work to do, it was encouraging how many players and owners participated in the process and all pledged to continue to work together. We all agreed to meet again before training camp."
The current CBA was ratified by the league and the players' union in July, 2005, in order to avoid a disaster like the cancelled 2004-05 NHL season affecting the NBA.
Although it is set to expire at the conclusion of the upcoming campaign, the NBA does have an option to extend the agreement through the 2011-12 season. To do so, the league has to exercise that option by December 15.
One of the more stable pro sports leagues in existence, the NBA has not had a labor dispute interrupt play since the start of the 1998-99 season was pushed back from November until early February due to a lockout.