After a round of small-group meetings Wednesday morning — held mainly to discuss pension issues — the union returned to league offices shortly before 3 p.m. ET to deliver its latest proposal. It was the fourth proposal made between the two sides in the past six days.

The meeting, which included several players, lasted approximately one hour.

The two sides expect to reconvene Wednesday evening, NHLPA executive director Donald Fehr said. According to a source, the next meeting is set tentatively for 8 p.m. ET.

Fehr declined to comment on whether the NHLPA will file a disclaimer of interest, which would dissolve the union, although the executive board will hold a conference call on the matter at some point Wednesday night.

The players have until midnight Wednesday to decide whether to dissolve the NHLPA, thereby nullifying its right to collectively bargain as a union.

With little details emerging from the information exchange between the sides, the NHLPA’s decision will provide the best glimpse at where negotiations stand.

A vote to disclaim interest would have a significant impact on negotiations — possibly derailing them altogether — and would be a sign the two sides are not as close as many had hoped.

Should it let the deadline pass, it is possible the union believes it can reach a deal.

The league already has canceled all games through Jan. 14, and the deadline to salvage the season is looming. NHL commissioner Gary Bettman said a deal would need to be reached by Jan. 11 in order for a 48-game season to be possible.

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Reid’s status as the favorite for the Cardinals’ job was earlier reported by KTVK-TV in Phoenix on Tuesday.

Arizona is fast tracking Reid so it can move as quickly as possible. One league source said he was “95 percent” certain Reid will wind up coaching the Cardinals.

The Cardinals formally interviewed defensive coordinator Ray Horton on Tuesday, one day after Ken Whisenhunt was fired following six seasons as the team’s coach.

Cardinals president Michael Bidwill also plans to fly to Denver over the weekend to interview Broncos offensive coordinator Mike McCoy.

Reid has spent recent days assembling a coaching staff, telling potential assistants that an announcement could come quickly, according to one assistant. After his run of 14 seasons in Philadelphia ended Monday, Reid appeared set on coaching again next season.

Arizona would be appealing to Reid and his family on a number of levels, none more so than his wife Tammy is from the Phoenix area and it would bring them closer to family.

In Arizona, Reid also could try to help salvage the career of former Eagles quarterback Kevin Kolb, who has struggled since signing a lucrative five-year deal with the Cardinals following a trade from Philadelphia in 2011.

In a perfect world, Arizona would get to hire Reid and his offensive staff and match it with Horton and the defensive staff, giving the Cardinals a winning one-two coaching combination.

Kolb, who threw 11 touchdowns and 14 interceptions in four seasons with Philadelphia, remains under contract with Arizona, but the team is expected to want to restructure his contract. He is set to make $9 million plus a $2 million roster bonus for the coming season.

“I’m not ready to give up on Kevin Kolb yet,” Bidwill said Monday.

Bidwill has to interview McCoy this weekend in Denver under NFL rules that provide a narrow window for such meetings with members of coaching staffs whose teams have a bye the first round of the playoffs. McCoy also has an interview scheduled with the Browns.

Larry Fitzgerald, who had one of his worst seasons as the Cardinals struggled at the quarterback position, weighed in on the firing of Whisenhunt and general manager Rod Graves. In a lengthy tweet, Fitzgerald thanked the pair for giving him the opportunity to “live my dream in the NFL.”

“We all shoulder the blame for a disappointing season which began with such promise,” Fitzgerald wrote.

He said that “even in the midst of a tumultuous season, it was still a pleasure to work for the staff we served under, and for that we remain grateful.”

“Their professionalism will provide for renewed accomplishments in different environs,” Fitzgerald wrote. “We all, to a man, thank them and wish them the best.”

Whisenhunt set the record for victories by a Cardinals coach, going 45-51 in six seasons, 4-2 in the playoffs. The team got off to a 4-0 start but lost 11 of 12 to finish 5-11 for the second time in three seasons.

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After a series of conference calls on Friday to go over the league’s latest proposal — submitted to the union on Thursday evening — staff members from both the NHL and NHLPA met face-to-face at NHL offices in Manhattan on Sunday. The two sides met for approximately three hours before the union met internally to determine whether to reconvene.

The union’s decision to wait to meet until Monday could be an indication that it will come back to the league with a counter-proposal of its own.

Should the NHLPA counter with its own offer, it is possible the union will take issue with the proposed $60 million salary to take effect for the 2013-14 season, a steep decrease from the $70.2 million cap for the 2012-13 season (pro-rated). It is believed that players are concerned with escrow rates as well.

Sunday’s face-to-face meeting was the first time the two sides have been in the same room since a failed second attempt at federal mediation over two weeks ago.

The window to salvage the season is narrowing each day that goes by without a new agreement in place.

In the NHL’s latest proposal, which featured concessions on term limits, salary variance and amnesty buyouts, the league provided the union with some key dates to save the 2012-13 season.

The league indicated that a deal would have to be in place by Jan. 11, to provide teams with a one-week training camp before what would be slated as the season opener on Jan. 19.

There is another deadline looming for the union as well. The NHLPA has until Wednesday to file a disclaimer of interest, which would essentially dissolve the union. The union membership voted last week — a vote that passed overwhelmingly — to authorize the executive board the power to decide.

The league has already canceled all games through Jan. 14, including the annual Winter Classic, which was originally scheduled to take place Monday in Ann Arbor, Michigan.

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