FLORHAM PARK, NJ — NFL LABOR UPDATE: The clock struck midnight and the NFL and the players’ union have yet to agree on a new collective bargaining agreement. The new league year is supposed to be amongst us, yet in the 13th hour the owners have put together a significant proposal that may “stop the clock” on negotiations of a new CBA and stop the potential of a work stoppage. The owners are currently awaiting a response from the DeMaurice Smith and the union, who want clarification on certain details before agreeing to extend negotiations. The deadline was for 1 p.m. EST on Thursday, however Sports Illustrated’s Jim Trotter has reported that the owners and the union are discussing extending negotiations by “a week or two”.

The on-going negotiations have garnered the attention of fans all over the country, mostly for how far off both sides are from agreement. Perhaps the biggest fan of the NFL, President Barrack Obama, spoke today on the possibility of an NFL lock-out in 2011. According to the Associated Press, Obama “expects” and “hopes” that the two sides will settle the labor dispute.He also said that he will not get involved in the negotiations.

The president insisted that the two parties should be able to work out a deal. “You’ve got owners, most of whom are worth close to a billion dollars. You’ve got players who are making millions of dollars,” Obama reportedly said. “People are having to cut back, compromise and worry about making mortgage [payments]. The two parties should be able to work it out without the President of the United States interfering.”

Reading between the lines, maybe what President Obama is saying is “get a deal done before I have to step in.” With a lockout looming after the NFL and the NFL Player’s Association still can’t agree on a new collective bargaining agreement. Michael McCann of SI.com eloquently breaks down the potential happenings of an NFL lockout.

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