According to Adrian Wojnarowski of Yahoo! Sports:
Angry with the concessions already made to the owners and fearful of worse ones coming with the completion of a new collective bargaining agreement, the players could push for a scenario that throws negotiations into chaos and could eventually lead to the loss of the 2011-12 season.
50 NBA players participated in a conference call with an antitrust attorney on Thursday to discuss the possibility of decertification. In order to force a vote for decertification the Union would need 30 percent of its members to sign a petition. The 50 players who participated in the call represent approximately 12 percent.
"We're beyond frustrated with the concessions that have already been made," one source on the calls said. "If the union gives in on the [basketball-related income] split and the open system issues don't go to the players side, decertification may be the next step."
The two sides are scheduled to meet again on Saturday, November 5.
The public decertification threat could either be bargaining tactic by the Players Union going into Saturday's crucial negotiations, or a legitimate threat that puts the 2011-12 season in serious jeopardy.