Posted by Sabrina B. @gametimegirl

NBA Players Association executive director Billy Hunter says the union will not accept the owners’ proposed collective bargaining agreement and will instead seek to disband the union, a move that likely jeopardizes the 2011-12 season.

The union, whose members have been locked out since July 1st, also plans to pursue an antitrust lawsuit against the NBA.

“As of this moment, we’re going to be in the process of converting the NBA Players Association into a trade associaton,” Hunter said Monday.

Hunter said the union has negotiated in good faith over two years and feels that they have given enough, while the NBA was “not willing and prepared to negotiate.”

“The players feel that they are not prepared to accept any ultimatums,” Hunter said.

“Going forward, collective bargaining will not be how this process continues for us,” added union president Derek Fisher. “We’ll let our legal team really lead the charge.”

“We continue to want to get to work, to get back to work, to negotiate, but that process has broken down,” Fisher added.

Commissioner David Stern urged players to take the deal on the table, saying it was the best the NBA could offer. He warned the union that decertification would not be not a winning strategy.

The proposal players rejected Monday called for a 50-50 division of basketball-related income. Players are still unhappy with what they believe are too many restrictions for big-spending teams that would limit their free agent options, but Stern said the proposal is far better for players than the one player reps said they would reject last week.

Now likely waiting for the players is a proposal that will call for a 53 percent to 47 percent split of BRI in the owners’ favor, a flex cap with a hard ceiling and rollbacks for current salaries.

Stern repeatedly has said the league is through negotiating.

“I want to answer this diplomatically. The next time we meet to discuss anything, we’ll be discussing the 47 percent proposal,” he told The Associated Press on Saturday. “This is it. We’ve been negotiating this for 2½ years. The owners authorized a revised proposal, and they said if it’s not acceptable and they want to keep negotiating, we present them with a 47 percent, flex cap proposal. They know it.”

WRITTEN BY ESPN.com senior writer Henry Abbott and The Associated Press contributed to this report & FULL STORY HERE