The NBA Players Association will meet in New York today to discuss the latest offer from the owners and determine whether it satisfies enough of their demands to put an end to the industry lockout.
Representatives from all 30 teams are expected to attend as well as other interested players.
They could decide whether to accept the offer, which proposes a shortened 72-game schedule beginning on December 15.
Commissioner David Stern has said if the offer is rejected, then the owners will come back with an even harsher one. "We're not going to cancel the season this week," Stern said. "We're just going to present to them what we told them we would."
But in order for the NBA to have a 72-game season, Stern said the two sides would probably have to come to terms on a new collective bargaining agreement within the next week.