It looks like NBA commissioner Adam Silver will avoid a lockout.

Silver and NBPA executive director Michele Roberts met Wednesday in New York and are inching closer to a new collective bargaining agreement, Yahoo Sports' The Vertical reported Thursday, citing persons informed of the matter

The sides have negotiated for several months while hoping to avoid a work stoppage. The current 10-year agreement includes an opt-out on Dec. 15, but it's expected a new agreement will be in place by then.

Most of the major deal points are already agreed to and it's possible the new CBA will be ready for ratification by the NBPA in the coming weeks.

Currently, players age 36 and over are prohibited from signing a five-year maximum contract. That's expected to change in this deal with the age moving to 38. However, what isn't expected to change is the NBA's basketball-related income split, which will remain in the range of 49-51% for the players.

Veteran players aren't the only ones who stand to gain from the new CBA. The rookie wage scale will be raised, as will the veteran minimum and free-agent exception deals. It's possible those salaries will rise in the 50% range.

One point of contention over the years has been the NBA's rule that players must be one year removed from high school to enter the draft. That won't change with the new CBA. To make up for that, the NBA will institute two-way contracts for Developmental League players similar to what the NHL offers now with its minor league affiliates.

That will give teams the opportunity to add two more players to the 15-man roster.