After 11 hours of negotiating Thursday, the NBA owners offered the players a revised deal. If the players accept, a 72 game season would begin on December 15th. However, the players did not accept the deal, choosing instead to regroup and meet with the owners on Monday or Tuesday. It is possible the players could accept the proposal, or perhaps counter it.

Here is a list of the main points in the NBA's current offer to the players: Players receive 49-51 percent of basketball-related income, guaranteed player contracts, maximum contract length of 5 years for "Bird" free agents and 4 years for other free agents, soft salary cap.

Click here for the full story on the NBA's latest offer. It comes to you from the AP, courtesy of Yahoo! sports.