True or False: Contracts covering 1 or 2 seasons can be extended.

The statement that contracts covering 1 or 2 seasons can be extended is false. In the NBA, a contract extension typically applies to contracts that have at least one year remaining, and it's common for extensions to happen when the player still has multiple years left on their contract. For one-season contracts, extensions are not possible since they would effectively require beginning a new negotiation process. Additionally, contracts covering two seasons can be challenging to extend as well, particularly if the final year is not guaranteed or if the player has the option to opt out. As such, the nature of contract extensions within the NBA's collective bargaining framework dictates a more specific set of criteria, making the assertion incorrect.