NEW YORK — It wasn't as wacky as the Immaculate Reception. Nor was it as telegenic.

But Thursday had to be one of the strangest days in the history of NFL labor negotiations.

When it ended, the deadline for free agency had been extended until Monday, the union and the league were back talking and a lot of big-name players who were about to be cut remained with their teams.

It started when the owners, who had flown in from all over the country, took just 57 minutes to rubber stamp a recommendation by their labor committee to turn down the union's final offer— a meeting so short that many people who expected a long session showed up after owners had already left.

Commissioner Paul Tagliabue announced "the situation as dire as dire can be" and union head Gene Upshaw insisted he wouldn't budge from his condition.

Seven hours later, it wasn't nearly as dire when the league and union agreed to push back the deadline, as an NFL statement put it, "to provide time to resume negotiations."

In other words, contact between Tagliabue and Upshaw continues as they try to find a place somewhere between the 60 percent of league revenue that the union is asking for the players and the 56.2 percent the NFL is offering. That amounts to about $10 million per team per year.

"I guess that's what the NFL is. It's always about change and we certainly have had some changes the past few weeks, few days, few hours," said Carl Peterson, president of the Kansas City Chiefs.

There are two years left on the labor agreement first signed in 1993 and extended continually before the deadline.

But unless there is an agreement, there will be no salary cap in 2007, which could create big-spending "haves" and low-revenue "have-nots," a situation that has prevailed in other sports such as baseball. That also has traps for teams and players: a player would be eligible for free agency only after six years instead of the current four; there would be no salary minimum, and annual raises would be limited to 30 percent.

That is complicated by an internal dispute over revenue sharing between big- and small-money teams, a battle that has accelerated as outside revenue has increased from sources from stadium naming rights to local radio. That money is expected to be included in the new labor contract for the first time.

Upshaw contends that internal dispute should be settled before the labor agreement is reached, but the owners didn't even discuss it Thursday.

"Sure we should discuss it," said Buffalo owner Ralph Wilson, one of the have-nots. "But we didn't."

The three-day respite gave a lot of club officials a little relief.

"Whatever the rules are, we'll follow them," said Tennessee general manager Floyd Reese, who spent the last three days trying to cut an estimated $18 million from the team's payroll. "I personally think it's healthier for the league to have a cap, but that's my opinion."

The ramifications of a low cap and a lot of players on the market — the likely situation if there is no agreement — go beyond free agency. If there is still no deal by Monday, cap problems will make it hard for teams to sign their draft picks, especially the high ones.

"We can always find creative ways to do things," said Leigh Steinberg, the agent for Southern California quarterback Matt Leinart, expected to be chosen no later than third in the draft.

"But I hope by draft time we will be beyond that. As teams peer into the abyss, as they peer into the apocalypse, sanity will return. When the NFLPA and management truly recognize the nature of no agreement, their intelligence and rationality will force them into making a deal."

Leinart wouldn't be the only one to wait. So will many free agents.

Shaun Alexander of Seattle, the NFL's MVP, and running backs Edgerrin James of Indianapolis and Jamal Lewis of Baltimore are among the most attractive free agents on the market. Others include San Francisco linebackers Julian Peterson and Andre Carter; wide receivers Antwaan Randle El of Pittsburgh and David Givens of New England; cornerbacks Charles Woodson of Oakland and Ty Law, a Pro Bowler with the Jets last season, and linebacker Will Witherspoon of Carolina.

Then there is quarterback Drew Brees of San Diego, although his value went down when he injured his throwing shoulder in the final game of 2005.

One star was guaranteed free agency in 2007 because Tennessee will pay $1 million to keep quarterback Steve McNair this season and allow him to become a free agent afterward. The final three years of a contract that would have kept him with the Titans until 2009 was voided. McNair will still count for a whopping $23.5 million against the salary cap due to previous bonuses in his contract.