NEW YORK - Nearly five months into the NHL lockout, the players' association still won't accept the league's demand for a salary cap. The league says it's too late to talk about alternatives.

And now time is about to run out on the hockey season.

The union needed only a few hours Wednesday to reject the latest league proposal that would place minimums and maximums on what the 30 clubs can spend on player costs. That didn't quite put an end to the hope for hockey, but it sure pushed that prospect to the forefront.