The current Collective Bargaining Agreement expires in a little over 24 hours and the players deadline to decertify, if that's what they choose to do, is a little under 24 hours away.
We're anxious to get a deal done in part to have the assurance that there will indeed by football next year but also so that offseason things like free agency and trades can happen.
According to Peter King of SI.com, it's a "distinct possibility" that things like free agency and trades will be allowed before a new CBA isn't done. I'll let you read his report for the details but it sounds like they could potentially reinstate the rules from the 2010 season and move forward. The two sides would then continue their negotiations and legal wrangling while the football world can move on.
His report doesn't have many details because obviously this isn't a done deal, or something that's necessarily been discussed in-depth, but he suggests it could go down in April or May if it does come to fruition.
Of course, he also says it's a "distinct possibility" that the two sides extend the talks and eventually reach a deal. We just don't know yet. I'd keep an eye on this. It's one of those things that makes so much sense that....they won't do it.