The New Orleans Saints have offered wide receiver Michael Thomas a contract extension that would average between $18 million and $19 million annually, according to Yahoo Sports' Charles Robinson.

Robinson reported Thomas is hopeful of earning $20 million a year.

Absent a new deal, the two-time Pro Bowler is set to be a free agent after the 2019 season.

Odell Beckham Jr. ($18 million) is the highest-paid receiver in terms of average salary, per Spotrac, so Thomas is poised to possibly reset the market for elite pass-catchers.

Julio Jones might beat him to the punch, though. ESPN's Jeff Darlington reported Monday on SportsCenter that an extension for Jones is likely "imminent" and that his new contract with the Atlanta Falcons could hit the $20 million mark per year.