After a marathon 16-hour negotiating session Tuesday, the NBA owners and players reconvened with federal mediator George Cohen around 10 a.m. Wednesday and talked until just shy of 7 p.m. in a Manhattan hotel. Bargaining had been expected to come to a halt Wednesday and Thursday because the owners had board meetings to attend, according to a report from ESPN.com. Talks will continue Thursday at 2 p.m.

According to a tweet from Yahoo!'s ace NBA reporter, Adrian Wojnarowski, a source involved in the talks said the two sides have made little actual progress toward ending the NBA lockout. NBA commissioner David Stern reportedly left the hotel with Celtics owner Wyc Grousbeck in order to attend the NBA Board of Governors Planning Committee meeting, which is working to create a new revenue-system for the league once a deal is struck. Deputy commissioner Adam Silver and Spurs owner Peter Holt stayed after to talk with representatives from the NBA Players Association.