Adam Silver said at a press conference on Wednesday that he expects negotations between the NBA and NBPA to go down to the wire ahead of Friday's deadline.
While the two sides have made progress, there is still significant work to be done to complete a new collective bargaining agreement.
"I think both sides understand that this is a window of opportunity that we should try not to miss," Silver said during his news conference at the conclusion of this week's meeting of the league's board of governors in midtown Manhattan. "Because if we don't have the deal done this Friday, the next real deadline is June 30, but that's the very end of the season.
"The whole idea behind these early deadlines [is] to try to avoid going right up to the line."
The NBA intends to opt-out of the current collective bargaining agreement if a deal isn't reached by midnight on March 31st, though Silver did raise the possibility of another extension.
"It's part of this collective bargaining agreement that this opt-out existed, so we wouldn't be acting outside of the collective bargaining agreement by exercising it," Silver said.
"[But] certain dynamics have changed since we negotiated this collective bargaining agreement. I won't go through the list, but media is one of them. We think there are necessary changes that we would like to make in the current collectively bargained relationship that take into account the realities of what media, the media world, looks like now as opposed to what it did in 2017."