According to 9NEWS Denver's Mike Klis, the Denver Broncos and wide receiver Demaryius Thomas are exchanging contract proposals.

According to Klis, the Broncos have offered Thomas a deal that would make him the second highest-paid receiver in the league by a "wide margin". The second highest paid receiver in the league is now Minnesota Vikings wide receiver Mike Wallace who is making $12 million a year.

The problem here is that Thomas wants more.

According to Klis, Thomas doesn't want Calvin Johnson money, he wants MORE than what Calvin Johnson is making. Right now Calvin Johnson is making $16.2 million annually.

The two sides have until Wednesday, July 15th, at 2 p.m MT to reach a deal. If Thomas and the Broncos cannot agree to a contract, Klis mentions that Thomas could skip the early portions of Training Camp.

The Broncos are showing how they feel about Thomas with this latest reported offer, but it all comes down to the guaranteed money. Both sides will have to make concessions to make this work, and it's still unknown if either side will budge.

It's still possible that a last-minute deal is agreed to before the deadline comes and goes. Thomas will now have to decide if he wants to play hardball and try to get the money he believes he deserves, or accept the deal offered and have the long-term security he's seeking.

We here at Mile High Report will continue to keep you all updated as more news come available on this.

Update:

CBS4's Vic Lombardi confirmed Mike Klis's report and mentioned that Thomas wants more than Johnson in guarantees

Confirming a @MikeKlis report. The DT camp asking for more than Megatron in guarantees and total contract. Megatron has 48 in guarantees. — Vic Lombardi (@VicLombardi) July 14, 2015

Calvin Johnson has $48 million in guarantees.