Actually, I will throw one more scenario out there. I think there is a chance that the union is waiting on the NLRB case ruling. Once (if?) that gets thrown out, then there is a chance the Union will fold, and they will make a deal.
What does NLRB mean?
Ummm, National labor something or rather. It is the national agency where the NBPA filed a charge against the league, that, if upheld, will end the lockout immediately, and force the league to open the doors, and play the season under the rules of the previous CBA, until a new CBA agreement has been reached.
Yesterday (or Wednesday?), Stern tried to have the case thrown out, but was rejected, which was seen by some players as a victory, and a sign that they may have a chance of winning that case (although I have yet to read a report from anyone that actually believes it will happen).
So, the players have motivation to hold out at least to see if anything comes from that case. If it gets thrown out, they are just in the same place they are now, without a foot to stand on, but on the outside chance a judge rules in their favor, then suddenly the lockout is over, and the owners lose most of their bargaining power (well, until they appeal).
I think there is at least a small chance that this is what Hunter is waiting for before taking those last steps towards the owners, and once it is officially denied, then he might realize it is time to blink.