NBA owners relaxed their insistence on non-guaranteed contracts in a new collective bargaining agreement Friday, but players cautioned that isn’t enough because the league is still seeking a hard salary cap.

Even so, the proposal by the owners during a 4 1/2-hour meeting was perhaps their most significant movement yet as the sides try to agree to a new deal before the current one expires June 30.

“We think it's significant. Very significant, actually,” Commissioner David Stern said.