The NFL and the players’ union agreed to a 24-hour extension of the current collective bargaining agreement, giving them all day Friday to work on a new deal—or perhaps agree to a further extension. Each side is expected to meet separately with Cohen before any negotiations would be held.

The NFL and the players' union sat down Thursday morning for a last-ditch effort to avoid a work stoppage in America's most popular sport.

Goodell says “We’re going back to work hard again,” but gives no indication what he expects to happen during the one-day reprieve.

If the CBA expires, the owners could lock out the players, and the union could decertify to try and prevent that through the courts—something the NFLPA did in 1989.