According to Duncan, Thomas has reduced his asking price down $22 million per year while the Saints are in the $18 million per year neighborhood at this time.
Duncan mentions that Thomas is currently in Europe and no deal is considered imminent at this time.
Earlier in the week, Duncan reported that both are motivated to get a deal done and the hope is that they can have an agreement in place by training camp. However, there’s “still a lot of work to be done.”
Saints GM Mickey Loomis confirmed talks had begun with Thomas.
“Yeah, listen, we’ve had some conversations, and I like keeping that close to the vest until there’s something to report,” Loomis said via Mad Dog Sports Radio. “Look, we love what Mike’s done for us. He’s a fantastic player, one of the best at his position in the league, and hopefully we can keep him as a Saint for a long time as well.”
Thomas, 26, was drafted by the Saints in the second round out of Ohio State in 2016. He’s entering the final year of a four-year, $5.118 million contract that included $3.055 million guaranteed.
In 2018, Thomas played in all 16 games for the Saints and caught 125 passes for 1405 yards and nine touchdowns. Pro Football Focus rated Thomas as their No. 2 receiver out of 117 qualifying players.
We’ll have more regarding a new deal for Thomas as the news is available.