NBA drops insistence on non-guaranteed contracts

By BRIAN MAHONEY | June 17, 2011 | 6:58 PM EDT

NEW YORK (AP) — NBA owners have relaxed their insistence on non-guaranteed contracts in a new collective bargaining agreement, but players cautioned that isn't enough because the league is still seeking a hard salary cap.

Even so, the proposal Friday by the owners during a 4½-hour meeting was perhaps their most significant movement yet as the sides try to agree to a new deal before the current one expires June 30.

The sides will meet again Tuesday, with Commissioner David Stern saying it will be an important meeting to determine if enough progress can be made in time to avoid a work stoppage.

Also Friday, the league canceled its Las Vegas Summer League, which would have started in early July.