The National Basketball Players’ Association will meet with its 30 player representatives Monday morning in New York to discuss the owners’ latest proposal, multiple sources confirmed to SI.com.  Read more after the jump.

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With NBA commissioner David Stern claiming the owners are done negotiating and threatening to drastically worsen their offer if it is not accepted by the players, Monday’s meeting will likely determine the fate of the 2011-12 season. Players are faced with a host of unappealing options, from taking the proposal to a league-wide vote, to the lengthy legal battles that could come by way of decertification of the union or disclaimer of interest of the union, to continuing to negotiate with the owners. While a consensus of some kind won’t be reached until Monday’s meeting, one union source said the NBPA executive committee is expected to have a meeting Sunday night as a precursor.

Sources say more than 200 players are prepared to submit a signed petition for a decertification vote, a number that’s more than enough since only 30 percent of the league’s 400-plus players (roughly 130 players) is required. The strategy was initially supported by a group of seven influential agents but has since grown significantly.

If players do decide to file for decertification, it would take 45 to 60 days for the National Labor Relations Board to consider their petition. Players hope the pressure of an antitrust lawsuit would be enough for the league to change its stance. But they would be forced into a precarious position if that strategy failed since it would entail a lengthy legal battle that would likely sacrifice the entire season.

The NBA in August filed a lawsuit with the NLRB, asserting not only that the lockout is legal but also that decertification of the union is not and would result in the possible voiding of existing player contracts. All of which has Stern concerned.

“Yes, I am worried,” Stern said, “because they’re talking up this thing called decertification which is not a winning strategy on the one hand. On the second hand, it’ll take three months to teach them it’s not a winning strategy, which would not augur well for the season.

“The agents misunderstand it and all it does is delay things. They themselves think that if the players decertify, then the league will change its offer. And that will not happen as a result of decertification. It’s a losing strategy for them.”

SI