NBA deputy commissioner Adam Silver doesn't see a lockout as inevitable even though no formal meetings have been scheduled between the owners and players' union.

He believes the two sides have plenty of time to work out a new deal before the current collective bargaining agreement expires on June 30.

"It's not inevitable," Silver said. "While we have no other formal meetings scheduled now, there is an ongoing dialogue with the union and we've been completely forthcoming with our financials. And I'd like to believe they understand the position in which we find ourselves and that no rock will go unturned in trying to get a new deal done."

The players rejected the league's last formal proposal over All-Star weekend last February, then presented a counterproposal last summer.

David Stern has said the union's proposal was too similar to the current CBA. Silver said the league has offered no new proposal because, "Our position hasn't changed."

"We will continue to talk and we will work around the clock if necessary to avoid losing games," Silver said. "That is one thing there is absolute agreement on, between the ownership and the union, that makes absolutely no sense given the economic situation this country finds itself in and given the economics of this league -- to lose games."