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NBA Lockout Talks Paused, Will Resume Thursday

NBA lockout talks will continue as the two sides attempt to work out a deal, commissioner David Stern announced just after 1 a.m. ET on Thursday morning. The league and players' union will reconvene at noon on Thursday. Stern said the "clock is stopped," referring to his weekend ultimatum that insisted without a deal by 5 p.m. on Wednesday, the league's proposal would revert to much more punitive version.

Stern said that no progress had been made on the system issues that remain at stake, but that they would continue to press forward Thursday.

"We're not failing and we're not succeeding," Stern said.

Stern has said in the past that the league would need 30 days from handshake to tip-off for the regular season. The entire November slate has already been cancelled, but it's believed that the league could play close to a full season if a deal is reached soon.