NBA players reject owners' offer

NEW YORK (ESPN) - The NBA players rejected the league's latest offer Monday and have begun the process to disband the union.

The decision likely jeopardizes the 2011-12 NBA season, though NBA commissioner David Stern, in an interview on ESPN's "SportsCenter," declined to say the season would be canceled.

"We're prepared to file this antitrust action against the NBA," union executive director Billy Hunter said. "That's the best situation where players can get their due process."