As first reported by the New York Times, representatives of the NBA's player union and owners will meet Sunday at 6 p.m. EDT in a last-ditch attempt to resolve their labor dispute before a portion of the regular season is lost.  

NBA commissioner David Stern is set to cancel two weeks of the game schedule on Monday if no breakthrough can be achieved.

Billy Hunter was scheduled to fly to Los Angeles on Sunday for a regional meeting with his players on Monday but has apparently postponed that trip to stay back in New York and meet with league officials.  It is conceivable that he could make further changes to his travel plans if progress is made during Sunday's meeting.

On Friday, the league notified the union that it would not budge from the 50-50 concept it put forth in their previous meeting, and it seemed as if the two sides would not sit down to negotiate prior to Monday's deadline.  

It is not clear whether the league has shown new flexibility in its bargaining parameters, or the parties will discuss the other 'system' issues that need to be resolved before a new collective bargaining agreement is in place.

While the owners claim to be firm at 50-50, deputy commissioner Adam Silver seemed to indicate that the league would be open to "even more potential movement" after the last meeting between the parties.  

Similarly, the players have made public statements that they are committed to a demand of no less than 53% of basketball revenues, but reportedly have indicated a willingness to move that figure down to 52% in private talks with the league.

The gap between the parties has narrowed considerably but now time is running out as the two sides prepare to meet Sunday night.