NHL CBA Talks 2012: Sides exchange proposals, but clock is ticking

June 22, 2012; Pittsburgh, PA, USA; NHL Commissioner Gary Bettman on stage at the 2012 NHL Draft at CONSOL Energy Center. Mandatory Credit: Charles LeClaire-US PRESSWIRE

(SB Nation) -- The NHL and its player's association met for three hours on Wednesday in an attempt to come to terms on a new collective bargaining agreement. The current agreement between the two sides is set to expire on Sept. 15.

NHLPA head Donald Fehr stated that the players association submitted a new proposal to the owners, which addressed a number of the club's concerns. However, he wouldn't specifically state what the contents of the proposal were. In turn, the NHL presented a counter-proposal to the players, which reportedly increased the player's share from previous offers.

This means the players received an increase of $300 million compared to $250 million in the last offer, which is $650 million more than the initial offer from the owners in July.

NHL counter-proposal today was six years in length: offered to start players' share at 49 percent and end it at 47 percent at end of term

It is believed that the players are interested in a term shorter than six years.

In addition, LeBrun reports that "Under league's newest proposal, HRR stays same." This is a significant development, as the owners' previous attempts to redefine Hockey Related Revenue has been seen as an additional take-back from the players, even before their share of HRR is even determined.

Both sides stated that they were not willing to characterize the nature of the talks in terms of progress and that both sides needed to examine the proposals further to understand what the offers included.

However, commissioner Gary Bettman stated that if the NHLPA fails to accept this most recent offer before Sept. 15, that it will be pulled from the table and future offers will remove some of the recessions the owners have made.

Both groups are expected to make public statements on Thursday in New York with larger memberships.

Click on the highlighted links to hear the complete press conferences of Donald Fehr and Gary Bettman courtesy of SB Nation's Steve Lepore.

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