The Sports Xchange

Denver Broncos wide receiver Demaryius Thomas, who has not signed his franchise tender, is up against Wednesday’s deadline to work out a new deal.

According to a Pro Football Talk source with knowledge of the situation, it is currently “not likely” that the Broncos and Thomas will work out a new contract before the deadline.

The NFL Players Association reportedly is investigating what it considers possible collusion by the Dallas Cowboys and Broncos regarding their franchise wide receivers.

Earlier this offseason, the Cowboys placed the franchise tag on Dez Bryant and the Broncos tagged Thomas. Both teams have been negotiating long-term contracts with their No. 1 receivers and have until Wednesday to strike deals or Bryant and Thomas will have to play the 2015 season under the $12.8 million franchise tenders.

Thomas is unhappy that he was designated the franchise player in free agency rather than rewarded with the massive payday and guaranteed contracts of other top-flight receivers.

John Elway, the Broncos’ executive vice president and general manager, has said in recent months the team wants to sign Thomas to a long-term deal. Coach Gary Kubiak has said he believes a deal will get done.

Thomas has three consecutive seasons with at least 92 catches, 1,430 yards receiving and 10 touchdowns. In his five years with the Broncos, he has 351 receptions for 5,317 and 41 touchdowns.