The NHL has made some concessions - most notably in the length of contracts and including amnesty buyouts - in an effort to salvage part of the season.
Representatives from the league and the players' union are expected to have a conference call Saturday to discuss the developments and may meet Sunday in New York.
Friday was the 104th day of the lockout, and games have been canceled through Jan. 14.
According to multiple reports Friday, the league has offered teams one compliance (also known as "amnesty") buyout before the 2013-14 season, and has proposed allowing six-year contracts, an increase from the previous offer of five years. There was no change in a previous proposal in which teams could re-sign their own players to seven-year deals.
The players, who had a conference call Friday to discuss the developments, want eight-year maximums on contracts.
In addition, the NHL included a provision that a salary can vary by no more than 10 percent from the first year of a long-term contract. The league had previously proposed a 5 percent variance.
The offers are contingent on having a collective bargaining agreement in place by Jan. 11 and a 48-game season starting on Jan. 19.
The new deal would give teams a $70.2 million salary cap this season, but it would drop to $60 million in 2013-14, ESPN.com reported. The players' union is likely to protest the latter figure.
The owners still want a 10-year agreement, with both parties having a mutual opt-out after eight years. The players want an eight-year pact, with an opt-out after six years.
In the compliance buyout, each team could make one such move before 2013-14, and the player's contract would not count against the cap, but would count against the players' 50 percent share of hockey-related revenue.
The compliance buyout is seen as a way for teams to get down to the proposed $60 million cap in 2013-14, and goalie Ilya Bryzgalov is among the players the Flyers would probably consider at that time - that is, unless players on the long-term injured list (such as Chris Pronger) start counting against the salary cap in the new CBA.
The proposal also includes the owners' contributing $200 million toward revenue sharing; a weighted draft lottery for non-playoff teams; creation of an interview period for unrestricted free agents; players' appeals on discipline matters being heard by a neutral third-party arbitrator; and an extended Christmas break (Dec. 24-26).
Reportedly, there is also talk of moving the Winnipeg Jets to the Western Conference and Columbus to the Eastern Conference this season.