The NHL's Board of Governors met today in New York, and according to commissioner Gary Bettman they were unanimous in their decision to lock out the players if there is not a new agreement in place by 11:59 p.m. ET on Saturday. The NHL and NHLPA have been in negotiations on both Wednesday and Thursday, but no agreement has yet been reached.
According to Bettman, the NHL have been working hard in an attempt to meet the players in the middle, but the NHLPA have been responding with virtually the same proposal every time. The percentage of the revenue that will be going to the players appears to be the major hurdle at this time, with Bettman pointing out the fact that both the NFL and NBA's players have taken recent cuts to their shares of the respective revenues of those leagues.
Bettman also implied that the players seem to be the ones driving a potential lockout, and pointed out that he believes such a move will cost the players more in lost checks than they'd be giving up under the league's current proposal.