The NBA and the National Basketball Players Association have a meeting scheduled for Wednesday in New York as they move closer to a deal on a new collective bargaining agreement.

The NBA's annual board of governors session is scheduled for Thursday. 

Sources say there is rising optimism on both sides of the bargaining table that the basic framework of a deal can be achieved as early as this month.

The current collective bargaining agreement between the NBA and the NBAPA runs through June 2021, with both sides holding the right until Dec. 15 to express an intent to opt out in 2017.

In addition to the NBA's two-day board of governors session at the end of this week, both Silver and NBPA executive director Michele Roberts are expected to have joint media availabilities scheduled for the opening night of the regular season on Oct. 25.