The two sides, aiming to end a four-month-old labor dispute that has seen regular season games cancelled, are meeting at 2 pm in New York City as optimism mounts that a deal is near following a 15-hour session that ended around 3 am.
Chelsea's plan to buy their Stamford Bridge pitch from fans and possibly move to a new stadium hit a major stumbling block on Thursday when not enough supporters voted for the proposal.
Former France international Thierry Henry scored in injury time as the New York Red Bulls defeated FC Dallas 2-0 in their Major League Soccer wild-card playoff game on Wednesday to book a meeting with David Beckham's LA Galaxy.
Carlos Tevez has had his fine halved by Manchester City after the Premier League club reluctantly accepted a ruling by the players' union that the Argentine did not refuse to play in last month's Champions League match at Bayern Munich.
Kaka has been recalled by Brazil for the first time since last year's World Cup in South Africa for friendlies against Gabon and Egypt next month.
Britain is planning to mark its return to Olympic soccer after a 40-year absence with a gala double-header featuring both the women's and men's teams playing international friendlies at the same venue on the same day next July.
Number crunchers have come up with an unexpected conclusion about the National Basketball Association's decision to cut short its season: There may actually be a few economic winners.
NBA players and owners spent more than 10 hours locked in discussions about reaching a labor agreement.
The first openly gay former NBA player says prejudice against homosexuals is rife in British sport, especially soccer.
A League Cup last-16 game between arch-rivals St Etienne and Olympique Lyon was interrupted midway through the second half by crazy fans.
Bayern Munich cruised into the German Cup third round with a 6-0 demolition of second division Ingolstadt.
Udinese's unbeaten start to the Serie A season came to an end on Wednesday when they slumped to a 2-0 defeat at Napoli.