In December 2011, National Basketball Association (NBA) team owners and the National Basketball Players Association (NBPA) entered into a new Collective Bargaining Agreement (CBA). The term of the CBA is ten NBA seasons, from December 8, 2011 through June 30, 2021. However, the NBA and the NBPA each have an option to terminate the agreement effective as of June 30, 2017 following the sixth season of the current CBA; the options must be exercised on or before December 15, 2016.