In what looks to be a last ditch effort to have any type of 2012-13 regular season, it seems like the NHL and NHLPA are moving closer to resolving the ongoing lockout.

According to various reports, the League and its players association are closing the gap on two key issues that have largely divided the two sides; revenue sharing, CBA length and contract length.

NBC Sports Ryan Dadoun writes that the NHLPA is willing to accept a 10-year CBA as opposed to the 8-year agreement that they were originally pushing for. This is extremely significant considering this is one of the issues that collapsed talks between the two sides nearly a month ago.

But the NHLPA aren’t the only ones making concessions, the NHL and its owners are as well.

The League has reportedly backed off five-year contract limits something the players were very much opposed to.

Obviously time will tell if this latest optimism ultimately leads to a 2012-13 season. John Buccigross of ESPN tweets that a deal between the two sides could come fourth tonight for the extreme optimists with the more cautious saying a deal getting done on the 10th or 11th of January.

If a deal does get done persistent rumors signify games would start January 19th and set up a 48 game schedule, the same number of games that were played in 1995 when a labor lockout shortened the season.

Negotiations between the two sides are expected to continue after 5PM ET today.

h/t: ESPN, NBC Sports