The owners of baseball, the players are coming back to the negotiating table, but what does that mean?

Owners and baseball players pulled out of union negotiations on Tuesday, but that didn’t mean they weren’t going to return to the bargaining table soon.

Two days later, key negotiators met in New York to resume conversations amid the landlords lockout which was in its 92nd day.

Major League Baseball Assistant Commissioner Dan Halem and MLB Players Association attorney Bruce Meyer met for 90 minutes Thursday, according to multiple reports, and the industry-wide issue is to know what this will lead to? The talks were apparently about where both sides would stand and where they would go from here.

“We would like to keep the idea that we are ready to come back to the table and see if we can get a deal,” commissioner Rob Manfred said Tuesday after talks broke down.

There was no indication that MLB and the union were getting closer to an agreement on Thursday, but the fact that talks took place was an encouraging sign amid popular sentiment that the entire April schedule could be lost.

Already, the first week of games has been canceled, and every week that a new deal is not reached will mean another week of the season is scratched. That is, if indeed four weeks are needed for spring training, as the owners have suggested.

Beyond the debate on fundamental economic issues, including the threshold for imposing the competitive balance – and the penalties for exceeding them – the parties are faced with the question of player remuneration during the lockout.

“Their decision to say they won’t reschedule games if games are canceled or that they won’t pay players for canceled games is entirely their position,” Meyer said. “They are not legally required to hold these positions. It would be our position, if matches are canceled, that as part of any agreement to return, we would seek compensation and/or that those matches be rescheduled.

“If the league unilaterally decides to cancel games, and then we have an agreement, players should be compensated for those games.”

Each day of the season missed, players will lose more than $20 million, according to The Associated Press. Union leader Tony Clark said the MLBPA, with no paycheck in sight, handed out $5,000 allowances to players on Feb. 1 and March 1, with a larger allowance coming April 1. .

In 1990, when the owners also locked players, the first week of the season was missed, but it was simply pushed back to April 9 and a full schedule of 162 games was played.

The players threatened that with games canceled they would not accept an expanded post-season – which would be a financial boon for the owners – beyond the usual 10 teams.

Additionally, Clark said, “If games are missed, it’s important to players and their families that medical coverage continues, so we have a responsibility to make sure that happens.”

John Shea is the national baseball writer for the San Francisco Chronicle. Email: [email protected]: @JohnSheaHey