The NHL players' association has delivered its latest counteroffer to the league as the two sides try to resolve the lockout. 

The union and the NHL could meet again later Wednesday after the league looks over the proposal. 

The NHL had presented the players with a counteroffer Tuesday night. 

Commissioner Gary Bettman says that the league had told the union a deal needs to be in place by January 11 so a 48-game season can be played.

(Canadian Press)