(CNN) -- Negotiations between NFL owners and the players union on a new collective bargaining agreement were given a 24-hour extension Thursday, according to a statement from the league. "The NFL and NFL Players Association have agreed to extend the expiration of the (collective bargaining agreement) for 24 hours and continue negotiating under the direction" of  federal mediator George Cohen, the statement said. "The agreement by both sides to refrain from comment on the negotiations remains in place." Representatives of the players and owners have been meeting in Washington. "I just want to say to all of our fans who dig our game, we appreciate your patience while we work through this," said NFL Players Association Executive Director DeMaurice Smith. "We're going to keep working. We want to play football."
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Negotiations extension averts lockout, for now
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NFL owners and players are negotiating a new collective bargaining agreement
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A federal mediator is overseeing the talks
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Without an agreement, a lockout and litigation are likely
Another possible scenario from the talks would have @placeholder declare an impasse that would automatically extend the rules of the expiring collective bargaining agreement.