Billy Hunter, executive director of the National Basketball Players Association, arrives at a New York City hotel for contract negotiations in June. (Photo: Neilson Barnard/GettyImages)

With basketball season looming, it appears both the NBA owners and players are getting more serious about negotiating a new collective bargaining agreement to end the two-month-old lockout.

The Associated Press is reporting the two sides will resume talks Wednesday, which would be just their third such session since the lockout began July 1.

The top negotiators for the owners and players came away from last week’s meeting saying they would have more frequent discussions going forward. That is a good thing because training camps are set to open in less than a month and from all indications the owners and players remain far apart in their negotiations.

The owners are demanding a drastic cut of the players’ stake in the revenue sharing and they also want a harder salary cap than the one that currently allows teams to go over to sign or keep veteran players.

According to AP, Wednesday's meeting will be a small group gathering at an undisclosed location in New York.

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