Montreal, QC (My Sportsbook) - With under two weeks to go before the collective bargaining agreement expires, the National Hockey League and NHLPA completed three days of talks Thursday, and made no progress once again.

The two sides met for roughly 20 hours over three days in Montreal, and much of the time was spent examining the business operations of all 30 teams, something requested by the union after rejecting six proposals last month.

"We met for 20 hours over the last three days and completed the Union leadership's requested exercise of discussing individual club markets and situations," Bill Daly, NHL executive vice president and chief legal officer, said in a statement. "While we continue to believe the information that we discussed is not particularly relevant to the bargaining process, the Union leadership has assured us that, in their view, these discussions were for the purpose of furthering our negotiation, and may help them formulate a new proposal."

The NHL, which made six different proposals to the players in July, all of which were rejected, is still waiting for an proposal from the NHLPA, which has made just one since June 2003.

"We have repeatedly communicated our objectives to the Union leadership and we would hope that any proposal they decide to make to us would be intended to meet these objectives," said Daly. "Specifically, we are anxious to see how a new Union proposal would ensure the elimination of the hundreds of millions of dollars in losses that we are presently incurring under the current CBA, and cannot afford."

Owners are looking for some form of cost certainty amid what they claim are hundreds of millions dollars in economic losses over the past several seasons.

The players have said that they will not accept a salary cap in any form, something they claim was present in all six offers proposed by the league.

The CBA is due to expire September 15, a day after the championship game of the World Cup of Hockey.

The current agreement was originally put in place to end a lockout during the 1994-95 season, one that was shortened to 48 games.

Daly has said it was under this agreement that the league as a whole lost more than $500 million over the past two years and in excess of $1.7 billion.