The NHL Players Association presented a counter-proposal to the league at the end of their meeting in New York on Monday, multiple media outlets reported.
The NHL will review the union's offer, and NHLPA special counsel Steve Fehr told TSN he expects the two sides to meet again on Tuesday.
"We made a comprehensive proposal that was (288) pages. They've come back with a comprehensive response. We need time to analyze it," NHL commissioner Gary Bettman said, according to CSNChicago.com.. "We're going to do (review) tonight. The expectation is we'll contact them tomorrow morning and get together hopefully by midday."
An agreement would need to be in place no later than January 11 for the season to begin on January 19. That is as late as the season can start to accommodate a 48-game regular season and a postseason that would end in June.
The two sides met for about three hours Monday afternoon, with the session ending shortly before 5 p.m. ET.
There has been no decision made regarding the NHL's disclaimer of interest, according to the Ottawa Sun.