- Associated Press - Friday, November 25, 2011

NEW YORK (AP) - A person with knowledge of the situation says NBA owners and players are meeting in New York in hopes of ending the 148-day lockout.

After a secret meeting earlier this week, the sides resumed discussions Friday afternoon, the person tells The Associated Press on condition of anonymity because the talks are supposed to remain confidential.

The NBA has little time left to save the league’s Christmas Day schedule. Commissioner David Stern has said the league needs about 30 days from an agreement to when games could be played.

Talks last broke down Nov. 14 when players rejected the owners’ proposal that included opening a 72-game schedule on Dec. 15, instead announcing instead they were disbanding the union, giving them a chance to win several billion dollars in triple damages in an antitrust lawsuit.

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