Sources: NFL, union agree to 7-day extension

ESPN is reporting that its sources said today the NFL and the NFL Players Association have mutually agreed to a seven-day extension of their talks toward a new collective bargaining agreement, and the two sides will resume labor negotiations on Monday under the continued supervision of federal mediator George Cohen.

An announcement is expected shortly. The new CBA expiration date is next Friday, sources tell ESPN NFL Insider Adam Schefter.

Under the terms of a "tolling agreement," the league's 32 teams still will be prohibited from conducting or executing player transactions. It is the same agreement that was reached via a 24-hour extension of talks Thursday.

The CBA was set to expire at midnight Thursday, which would likely have prompted the first work stoppage since 1987 for a league that rakes in $9 billion a year.

The 24-hour extension agreed to Thursday, according to sources, had given the union a chance to review the league's latest proposal and for both sides to decide on the next step — be that another extension, more negotiations, a lockout or decertification.

In addition to the owners' proposal Thursday, the union has also made concessions in the latest negotiations, sources on both sides said. The details of those concessions are unknown.