All Quiet On Demaryius Thomas Contract Front As Wednesday's 4:00 PM EST Deadline Nears

There appears to be little progress on a long-term deal for Denver Broncos star wide receiver Demaryius Thomas as the 2 PM MDT deadline approaches.

The latest news surrounding the negotiations, as reported by KUSA TV Channel 9 out of Denver, have the Broncos offering Thomas, 27, a long-term deal with more than $40 million guaranteed. That would exceed the $30 million guaranteed contract of the Minnesota Vikings wide receiver Mike Wallace, currently the NFL's second-highest paid receiver.

Thomas has repeatedly demanded that any new contract exceed that of Detroit Lions wide receiver Calvin Johnson. Johnson is the highest paid receiver in the NFL, signing a 7-year, $113.45 million in 2012 that guarantees $48.75 million.

The Broncos attached a franchise tag to Thomas earlier this year. The tag would pay Thomas $12.82 million for 2015, a significant raise over his salary in 2014 of $3.725 million, but short of Johnson's $16.2 million.

If a deal is not reached by the 2 pm MDT deadline today, the franchise tag would take effect and no further negotiations on a long-term contract would be allowed until March of next year.

Thomas has repeatedly said in the past that he would not miss training camp. However, KUSA is also reporting today that Thomas intends to miss preseason games if a deal is not finalized It is unlikely that Thomas would hold out into the season since he would lose $754,000 per game.

Thomas, a first-round draft pick (22nd overall) in 2010, has blossomed into one of the NFL's premier wide receivers. He has combined for 28 100-yard receiving games in regular and postseason play. He is the only receiver in the NFL to have at least 30 touchdown catches and 4,000 receiving yards.

Since the arrival of quarterback Peyton Manning in 2012, Thomas has at the minimum caught 92 passes for 1,430 yards and 10 touchdowns each season. Thomas joins Jerry Rice and Marvin Harrison as the only three receivers in NFL history to have three straight seasons with 1,400 yards receiving and 10 touchdown catches.

Last season Thomas had 10 100-yard games including an Oct. 5 performance against the Arizona Cardinals in which he caught eight passes for a franchise record 226 yards. Seven of his 100-yard games came in an impressive seven week stretch.

It is not guaranteed that Thomas will continue to produce the kind of numbers he has in the past. The Broncos offense is heading in a more run friendly direction under new head coach Gary Kubiak that will have some impact on Thomas' numbers moving forward. Also, with the 39-year old Manning under contract until the completion of the 2016 season, the Broncos will have a new look offense, possibly as soon as next season, with Brock Osweiler under center.

The current contract offer from the Broncos may be the best Thomas will get from his current team. In 2016 the Broncos will be facing contract talks with Pro Bowl linebacker Von Miller and defensive end Malik Jackson. When you factor in how much money it will take to re-sign Miller, the coming changes on offense, and the knowledge that wide receivers Emmanuel Sanders and last year's second round pick Cody Latimer are already in the mix, the question will be how much Broncos General Manager John Elway will be willing to spend to keep Thomas in the fold.