For the first time since the lockout started on July 1 the National Basketball Association and its players union met on consecutive days possibly suggesting that a resolution is getting reached on a new collective bargaining agreement. 

The league and union meetings lasted for five hours and have agreed to meet again on Sept. 13 with both represented sides by their full negotiating committees, said Jeff Kessler, the lead outside counsel to the players’ association.

Among the participants in today’s meeting in New York were union Executive Director Billy Hunter and NBA Commissioner David Stern, who has said the league’s teams lost a collective $300 million last season on annual sales of more than $4 billion.

The regular season is scheduled to begin on Nov. 1.