The Monday deadline passed and Redskins quarterback Kirk Cousins did not find himself with a new contract extension.
Cousins will make $24 million guaranteed in 2017 and will face the prospect of free agency, another franchise tag or a new contract with the Redskins once the upcoming season ends.
Following the Monday deadline, Redskins team president Bruce Allen released a statement that detailed the organization's efforts to re-sign the the starting quarterback.
"Our goal was to sign Kirk to a long-term contract with the final objective of having him finish his career with the Redskins," the statement read.
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"On May 2, right after the draft, we made Kirk an offer that included the highest fully guaranteed amount upon signing for a quarterback in NFL history ($53 million) and guaranteed a total of $72 million for injury. The deal would have made him at least the second highest-paid player by average per year in NFL History."
Allen made it clear that he met with Cousins face-to-face hoping to get a deal finalized before the deadline.
"But despite our repeated attempts, we have not received any offer from Kirk's agent this year."
"Kirk has made it clear that he prefers to play on a year-to-year basis. While we would have liked to work out a long-term contract before this season, we accept his decision."
The organization remains hopeful that a long-term contract can get done in the future, but they will have to wait until the end of the 2017 season.
The Redskins begin training camp in Richmond, Va. on Thursday, July 27.