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NFL Lockout: Deadline Extended As Owners, NFLPA Continue Negotiations, According To Report

After weeks of negotiations that sat at a standstill, the NFL and NFLPA finally came to some sort of consensus today as both sides agreed to extend the current collective bargaining agreement while negotiations continue. The idea for an extension was first floated on Thursday morning, just hours before the 11:59 p.m. deadline for a lockout. The deal does not mean the two sides are close to an agreement, but they will continue negotiating without a work stoppage.

The news was reported on the NFL Network on Thursday afternoon. The extension will reportedly last 24 hours as the two sides continue bargaining sessions.

Without an extension, it was likely the NFLPA would file for decertification before turning around and filing an antitrust lawsuit against the NFL. The NFLPA was also reportedly mulling over filing an injunction to stop a lockout, at least temporarily. For now, none of that is necessary as both sides have a bit more time, hopefully breathing new life into the negotiations.

It's unclear if the two sides are close to a consensus as of now, but they don't have much time. The main sticking point has been revenue sharing, with the owners looking for a bigger piece of the pie and players trying to keep their edge and share of revenue. With billions of dollars at stake, it's about money above all else in the CBA negotiations.

The union did win an important legal battle earlier in the week, preventing owners from pocketing television revenue during a lockout after Judge David Doty overturned an earlier decision that would've allowed the NFL to earn some $4 billion during a lockout. It's possible that decision prevents the owners from digging in for a long lockout lasting well into the season.

Stay tuned to our NFL lockout StoryStream for the latest as negotiations continue. For more on the Seahawks, check out SB Nation's Field Gulls.