NBA commissioner David Stern said there was no compromise during Wednesday's lengthy meeting between the players' union and team owners, but noted the two parties will continue to negotiate.

Stern indicated the meetings will commence again on Thursday at noon (et), but was neither optimistic or pessimistic following another marathon session.

"We're not failing and we're not succeeding," Stern said sternly. "There are many issues of importance. It behooves us that all of the issues are put on the table."

After meeting for 8 1/2 hours on Saturday, Stern gave the players a deadline of Wednesday to accept a new proposal that included a split of basketball- related income to the players between 49 and 51 percent, depending on revenue projections from the league.

Players union president Derek Fisher made it clear at a Tuesday press conference the NBA's current offer would not be accepted.

Despite the deadline passing, Stern said the proposal was still on the table as the parties try to get a deal done.

Fisher did not get into details of Wednesday's meetings during his press conference, saying simply all of the issues were covered in the talks.

If the players don't accept the deal, the next offer by the owners is said to be a 47-percent BRI for the players and a flex salary cap. Players were guaranteed 57 percent under the old collective bargaining agreement.

All games through November have already been canceled.