They walked into a Manhattan hotel, knowing they were running out of time to save their season.

After 16 hours of tense talks, the NHL and its players finally achieved their elusive deal early Sunday morning, finding a way to restart a sport desperate to regain momentum and boost its prominence.

Ending a bitter dispute that wiped out a large part of the hockey season for the third time in less than two decades, the league and its union agreed to the framework of a 10-year labor contract that will allow a delayed schedule to start later this month.

On the 113th day of a management lockout and five days before the league's deadline for a deal, the bleary-eyed sides held a 6 a.m. news conference to announce there will be a season, after all.

NHL Commissioner Gary Bettman and union head Donald Fehr both appeared drained, wearing sweaters and not neckties, when they stood side by side at the hotel and announced labor peace.

Read more at the Associated Press.