Six of the NBA's most powerful agencies jointly composed a warning letter about the new bargaining agreement being negotiated and sent it to their clients on Monday, according to sources.

The letter advises the players not to ratify any deal that includes a reduction in basketball-related income beyond the 57 percent or any other systematic changes from the last collective bargaining agreement, which expired July 1.

Sources say the letter, a copy of which was obtained from a player who received it, was jointly composed by Arn Tellem of Wasserman Media Group; Bill Duffy of BDA Sports; Dan Fegan of Lagardere Unlimited; Jeff Schwartz of Excel Sports Management; Leon Rose and Henry Thomas of Creative Artists Agency; and Mark Bartelstein of Priority Sports and Entertainment.

The letter sent Monday by the agents does not mention decertification, nor does it suggest that their clients break from the union. The letter advises them to request ample time to review any labor deal the union might present.

How the letter impacts negotiations or the timeline on a deal being struck remains to be seen.

Turner.com acquired a full PDF of the letter and here are some key parts excerpted by RealGM:

- The NBA demands deep cuts and major “givebacks” that will cripple your earning potential and the earning potential of every future NBA player.  

- The NBPA offered to reduce the players’ share of BRI from 57% to 52%.  This will result in a transfer of over $200 million per year or a minimum of $500,000 per player back to the owners.

- A reduction of the players’ share of BRI to 52% will result in severe restrictions on free agency and your ability to obtain your true market value.

- The owners demand a long term deal with the players but do not want to share in the tremendous growth and success of the league over the past six seasons.  

- During the 2010-11 season, the NBA experienced its highest revenues ever.

- The owners will threaten a doomsday scenario, but you must not yield to their ultimatums or threats. 

- The NBA seeks unprecedented and unjustified changes to the collective bargaining agreement.  

- Careers are short with limited time to maximize your earnings and limited opportunities to share in the money you help generate for the league.  If you don’t fight to preserve your rights now, you will pay the price in each pay check you receive for the rest of your career.

- Contact the union to educate yourself and fight for what is important: No further reduction of the percentage of BRI received by the players. Maintain existing structure of the Bird and Mid-Level Exceptions. No reduction in Maximum Salary from existing levels. No reduction in Contract Length from existing levels. No changes to Unrestricted Free Agency and improve Restricted Free Agency. Any deal must include these points.