National Basketball Association commissioner David Stern (R) answers questions from members of the media outside the Louvell hotel in New York
NBA commissioner David Stern announced Friday night that the NBA lockout is over after players and owners reached a tentative agreement. Reuters

There is renewed optimism the NBA season could soon resume after players and owners spent more than 10 hours locked in discussions on Wednesday about reaching a labor agreement.

Talks had broken off last week with little sign of progress toward ending a lockout that has been in place since July 1 and forced the cancellation of the pre-season and first two weeks of regular season games.

Commissioner David Stern rejoined the discussions, after he had missed the last meeting with the flu, which also included players union executive director Billy Hunter and president Derek Fisher, NBA TV reported on Wednesday.

Last week's meeting ended when it was reported the owners demanded a 50-50 split of revenues. The players had lowered their demands from 57 to 52.5 percent.

It was anticipated that Stern would announce further cancellations this week. His failure to yet do so could be seen as a positive sign though it is unclear whether an 82-game season could still be salvaged.

NBA