The clock is ticking towards a midnight deadline that could threaten the 2011 the football season, as the NFL and the players union agreed to give each other another 24 hours to try to make a deal.

The League and the Union that represents the players had a meeting with a federal mediator --the Federal Mediation and Conciliation Service-- for about a week and a half, trying to hash out a new Collective Bargaining Agreement (CBA.)

The biggest sticking point is how to split up the more than $9 billion annual revenue.