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NBA Lockout Update: Union Says Deal 'Within Striking Distance' After Thursday's Meetings

Could the NBA be one step closer to resuming play?

After a 15-hour marathon meeting on Wednesday, both the owners and players resumed talks on Thursday in an effort to bring an end to the 2011 NBA Lockout, one that has already cost the league the first two weeks of its season.

Following another seven and a half hours of intense negotiations, Union Executive Director Billy Hunter said a potential deal may be "within striking distance."

ESPN has more:

"I think we're within striking distance of getting a deal," Hunter said after Thursday's meetings. "It just depends on how receptive the NBA is and whether they want to do a deal."

Union president Derek Fisher said the sides would not have spent all day talking if they weren't making progress.

"We'll come back at it tomorrow," Fisher said Thursday night. "Our position hasn't changed much. Just trying to make sure that players continue to have a market for themselves and their services."

While NBA commissioner David Stern anticipates "some important and additional progress," his outlook was not as optomistic as Hunters, probably due to the fact that neither side had begun discussing the split of basketball-related income, the sticking point that has continued to doom negotiations from the beginning.

Discussions are expected to resume on Friday.

Stay tuned.