Wilson reportedly told the Seahawks that he wants a contract extension by April 15, but there have been no signs of progress between the two sides. If the Seahawks can't lock up Wilson to a new deal, the franchise likely will use the franchise tag on the quarterback.
While the midnight deadline is imposing, ESPN reported that both sides still are working hard to reach some sort of agreement.
Wilson showed up Monday for the start of the Seahawks' offseason program and is expected to continue to participate in all of the offseason activities and attend training camp.
Wilson, 30, is entering the final year of his four-year, $87.6 million deal.
The Russell Wilson contract situation has evolved into the next chapter.
It appears Seattle Seahawks fans can breathe easy, at least for now.
The eighth-year quarterback previously set a deadline for his last extension in 2015, but it wasn't until the beginning of training camp. He signed a 6-year, $114,100,000 contract back in 2016 which runs through 2021.
His last deal made him the NFL's second-highest-paid quarterback, behind Aaron Rodgers' $22 million per season.
Wilson and Rodgers have informed John Schneider of their position.
Seattle has had a precedent of not guaranteeing base salaries other than for injury beyond the first year of the contract (with any guarantees typically kicking five days following the season). But if/when April 15 without a long-term deal between the Seahawks and Wilson, the question of whether would take less from a different team becomes highly relevant to whether the Seahawks could find a trade partner, if that's the route the team chooses to take instead of paying him unprecedented franchise-tag money on a year-to-year basis. So in terms of age, it makes some sense to acquire Wilson.