The Cinncinnati Bengals and star Ja’Marr Chase are negotiating a contract extension that could potentially make him the highest-paid wide receiver in the league, according to NFL Network’s Ian Rapoport.

“The two sides are in talks for a deal that would make him among the highest-paid receivers in the NFL or the highest-paid receiver, higher than Justin Jefferson,” Rapoport said on Monday (1:00 mark).

He added that there is “nothing done yet,” but “progress” has been made in discussions.

Chase has been holding in during practice at various points throughout Cincinnati’s training camp as he attempts to secure a new deal.

The former LSU standout could surpass Jefferson, his old college teammate, as the highest-paid wideout in the league. The Vikings star signed a four-year extension worth $140 million in June, making him the No. 1 receiver in terms of average annual contract value (per Spotrac).

Chase still has two years left on his rookie deal after the Bengals exercised his fifth-year option in April and is set to carry a $9.8 million cap hit for the 2024 season.

The 24-year-old has thrived as Joe Burrow’s top target in Cincinnati, hauling in 268 catches for 3,717 yards and 29 touchdowns throughout the first three years of his career.

He’s also helped the Bengals reach the AFC Championship Game in back-to-back years from 2021 through 2022, racking up 588 yards in seven postseason appearances.

Chase’s status for Cincinnati’s Week 1 matchup with the New England Patriots is uncertain, although a new extension would ensure that he’ll be on the field. ESPN’s Jeremy Fowler reported on Saturday that the Bengals have “intensified” their efforts to come to a contract agreement.

With the start of the regular season approaching, several teams have been able to finalize extensions with star receivers. CeeDee Lamb secured a four-year, $136 million extension with the Dallas Cowboys on Aug. 26, while the San Francisco 49ers agreed to a four-year deal worth $120 million with Brandon Aiyuk on Thursday.

Chase could be next in line to earn his own long-term contract if talks with the Bengals continue to progress.