The league set the new deadline of 11:59 p.m. EST, Feb. 4 after the Major League Soccer Players Association submitted a proposal just hours ahead of the original deadline.
The union proposed extending the current collective bargaining agreement with the league through the 2026 season.
The league's proposal includes playing players their full salaries in 2021 in exchange for an extension through the 2027 season.
The league's new season is set to open April 3 with preseason training camps allowed to begin on Feb. 22.
The MLSPA noted the players have already faced health risks as have their families and team staffs because of the coronavirus pandemic.