NEW YORK -- An emotional week of labor negotiations came to a crashing halt Thursday as any hope that the NHL and the NHL Players' Association could reach a deal to end the lockout was blown up in epic fashion.

After three days of labor talks aimed at reaching a new collective bargaining agreement, the league rejected the union's latest proposal and pulled several elements of its own off the negotiating table.

All optimism that a resolution was on the precipice evaporated, replaced quickly by fear that salvaging the season never has looked more bleak.

According to NHL commissioner Gary Bettman, all items offered to the NHLPA in the past week have been rescinded, along with any and all "Make Whole" payments.

It is unclear when the two sides will meet again, although NHLPA executive director Donald Fehr said the union was informed not to expect any meeting before the weekend.

Multiple sources also told ESPNNewYork.com that there is expected to be a serious discussion soon amongst the union on possible decertification or disclaimer of interest. It is believed the issue was discussed on the players' conference call Thursday morning, and that a vote could come together soon once readdressed.

Negotiating committee member Chris Campoli said decertification has "always been an option."

"I think it's the obvious answer," Campoli said. "Although whether it's imminent, I don't know."

Fehr, who initially believed the two sides were close after the union's most recent offer Thursday night, said the NHLPA was notified via voicemail message that its proposal was "not acceptable."

In his initial news conference following Thursday's meeting, Fehr cited all the areas in which the two sides had reached an agreement after the union's last proposal -- pension plans, transition payments, for example -- and said they had bridged the gap on dollars completely.

But in a stunning, soap-operatic twist, Fehr returned to the podium shortly afterward with a distinctly different visage.

"It looks like this is not going to be resolved in the immediate future," he said, flanked by a squad of dejected-looking players.

In contrast to Fehr's somber attitude, Bettman adopted an emotional and fiery demeanor in explaining the league's stance on the situation.

Bettman blasted Fehr for what he felt was an attempt to "spin" the message to convey the two sides are closer to a deal than they are. The commissioner essentially chastised Fehr for whipping fans up into a frenzy.

"I find it absolutely incomprehensible he'd do that," Bettman said.