The NHL is waiting for the NHL Players' Association to respond to the league's most recent proposal on a new collective bargaining agreement, which was presented on Tuesday night.
The two sides met in New York City for a half hour and the league presented its latest offer. After the meeting, the NHLPA spent the rest of the night reviewing the proposal.
According to reports, it is believed that the union is still dissatisfied with the league's pension proposal.
Since re-establishing negotiations on Dec. 27, the NHL and NHLPA have exchanged three proposals (two of which have come from the NHL).
With Jan. 11 believed to be the drop-dead date for the two sides to salvage a 48-game schedule this season (which is the minimum amount of games that the league is willing to play), there is still time to generate a deal.
However, Wednesday night is the deadline for the NHLPA's executive board to file a disclaimer of interest, which would dissolve the union. According to multiple reports, the union will only take this course of action if talks fall apart.
If the union does not file the disclaimer, they will be able to take another vote even after the deadline expires.