According to Mike Florio of Pro Football Talk, a deal between the Denver Broncos and Demaryius Thomas appears unlikely at this time.
Long-term deal for franchise-tagged Broncos WR Demaryius Thomas "not likely" at this point http://t.co/f0x2yuCB4X— ProFootballTalk (@ProFootballTalk) July 13, 2015
Florio cites a source who has knowledge of the situation.
However, Florio does stop short of saying that the two sides won't ultimately agree to a new long-term deal. Some believe that the Broncos will use the same strategy that they used back in 2013 with offensive tackle Ryan Clady. They took that deal down to the wire but ultimately came away with a new deal.
If the two sides cannot agree to a new contract before the deadline, Thomas will play the 2015 season on a one-year, $12.82 million franchise tender.
It's unknown if Thomas would hold out or even miss a few games like Dallas Cowboy's wide receiver Dez Bryant is threatening to do.
There's still 48 hours left until the deadline so I expect we will see a few more "reports" before it's all set and done. But for now it appears that there won't be a contract extension for Demaryius Thomas.
Stay tuned to Mile High Report all week as we will keep you updated on everything Demaryius Thomas related.