Deal reached in NBA lockout

NEW YORK, Nov. 26 (UPI) -- NBA owners and players reached a tentative labor agreement Saturday that could have the league back on the basketball court by Christmas.

The players have been locked out since July 1 but early Saturday, after a 15-hour negotiating session, NBA players' union Executive Director Billy Hunter said, "We thought it was in both of our best interests to reach a resolution and save the game."

"We want to play basketball," NBA Commissioner David Stern said.

The owners and players, in separate votes, still must approve the deal, details of which were yet to be announced. Stern said he was "optimistic" the proposal will win approval.

The league is expected to go ahead with a 66-game schedule -- down from 82 games for each team -- beginning with three games on Christmas Day. The original NBA schedule called for one of those games to be a 2011 NBA Finals rematch having Miami playing at Dallas. Dallas won the NBA title last summer.

Key issues in the lockout were a split in revenues and a salary cap.