09/13/2012 01:16 EDT | Updated 11/13/2012 05:12 EST

NHL, NHLPA remain in lockout stalemate

With the deadline less than three days away, there are increasing indications that the NHL will lock out its players.

The NHLPA is holding an executive board meeting on Thursday in New York, with a news conference taking place now.

NHL commissioner Bettman will meet with the league's board of governors where he’ll likely be given a mandate to lock out the players when the current collective agreement expires at 11:59 p.m. ET on Saturday.

After the meeting, Bettman is expected to hold a news conference at 3:30 p.m. ET to recap the day’s events.

The two sides met for the first time in 12 days on Wednesday in New York, and while proposals were exchanged, no progress was made.

The players made a five-year proposal that called for less of a share of growth revenue, according to’s Tim Wharnsby. However, there was no willingness on the part of the players to decrease the $1.87 billion US in earned in total salaries in 2011-12.

Included in the NHL's counter-proposal:

- The league backed off its previous request to redefine hockey-related revenues (HRR), which would have further reduced the players' share. Players' salaries have been tied to HRR in the current collective agreement.

- The length of the NHL's offer remains a six-year deal.

- Players' salaries would be 49 per cent of revenues in the first, 48 per cent in the second and shrink to 47 per cent over the final four years. Players had 57 per cent in the current CBA.

Wharnsby, who is covering the labour dispute in New York, said that some players have already made contingency plans should the NHL impose a lockout on Saturday.

“I’ve seen a lot of signs that players are already making plans to maybe get a roster spot in Europe, especially the European-based players,” Wharnsby told CBC News. “Some guys could be in lineups on Sunday, the day after the lockout is imposed.”

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