Donald Fehr said a new proposal in collective bargaining is "about as good" as the NHL Players' Association can do, according to reports.
The offer was put on the table Wednesday morning, according to the Canadian Press.
Fehr said the union had put forward a percentage-based proposal that takes into account the damage caused by the lockout.
He said the sides are $182 million apart over the five-year deal, according to the report.
The NHL is expected to offer a response on Wednesday afternoon, the 67th day of the lockout.
The New York Rangers' Brad Richards told ESPN.com's Pierre LeBrun via text that the NHLPA's proposal "is a move in their direction again and based off of their proposal. There has to be an effort from them to get this done now."
The two sides have been trying to work out impasses on core issues such as splitting revenue and player contracts. On Tuesday, union leaders met for internal discussions.
About a dozen players arrived at the league's headquarters Wednesday morning along with lawyers and union executives.
If a deal is not struck soon, more games will have to be canceled in an already-shortened season. The lockout has wiped out 327 games so far. The next games still scheduled are in December.
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