The NBA and its players' association are close to labor peace.

A source close to the NBA negotiating committee and a source close to the union's negotiation committee claim that all of the major issues between the sides have been agreed to in principle, and the purpose of Tuesday's meeting is to work out some of the finer points of the agreement that weren't addressed during a lengthy, breakthrough negotiation session Friday. Both sources asserted that none of the issues left on the table are major sticking points.

Key components of the new deal include: A 19-year-old age limit, contract lengths would shorten a year, raises in contracts would be reduced and their will be an extra option year in rookie contracts.

There are apparently some issues still needed to be worked but nothing that could force a lockout.