The Latest rounds of talks between the owners and players to resolve the NHL's labor disputes broke down yet again Thursday.

With no further talks in the pipeline, both the feuding sides, if anything, went further apart, blaming each other for the breakdown in talks.

The last round of negotiations started on positive notes with both the sides sending signals that the dispute would soon be resolved and the hockey season would resume; however it turned out to be just hope.

NHL Commissioner Gary Bettman said the league would now consider their position and decide the future course of action.

"I am disappointed beyond belief," the Associated Press quoted Bettman as saying. "We're going to take a deep breath and look back at where we are and what needs to be accomplished."

Prior to Bettman's statement, Donald Fehr, the executive director of the National Hockey League Players' Association (NHLPA), announced in a news conference that both the sides seem to be on the verge of an agreement, before later saying the league had rejected the players' proposals.

"They knew there was a major gulf between us and yet they came down here and told you we were close," deputy commissioner Bill Daly said.

However, Fehr insisted both parties were close to coming to an agreement.

NHL has rejected the proposal offered by the players' association and pulled back some of their previous offers.

Earlier the league agreed to increase its make-whole offer of deferred payments from $211 million to $300 million, with the condition that players' union accept its three non-negotiable points. The association accepted the raise in funds, but offered their counterproposals on other two, which the owners did not like.

There is no indication that the sides would meet before Saturday. The league had scrapped all games through Dec. 14; if they don't reach an agreement soon, then more games are under the threat of being cancelled. The two most important events in the NHL's calendar - the New Year's Day Winter Classic and the All-Star game -- have already been scrapped.

"It looks like this is not going to be resolved in the immediate future," Fehr admitted.