NEW YORK (AP) – A person with knowledge of the plans says NBA owners and players will meet before Commissioner David Stern’s deadline to accept the league’s latest proposal or face a worse one.

The two sides are still divided over changes to the salary cap system, as well as the revenue split.

Players said Tuesday they wouldn’t accept the deal as configured and asked to negotiate again before the Wednesday afternoon deadline.

The person tells The Associated Press that the meeting is expected to be small groups, though other players who remained in New York after Tuesday’s union meeting could attend. The person spoke on condition of anonymity because negotiations are supposed to remain confidential.

Stern has said if there’s no agreement by the end of the business day, the league would propose a 53-47 split of revenues in the owners’ favor, along with essentially a hard salary cap.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

More From CBS New York

Download Weather App

Watch & Listen LIVE