The power forward has a player option worth over $22.3 million for the 2018-19 season.
According to Wojnarowski, an extension would allow him to opt in for next year while adding up to three more years to his deal. The new deal would have to be completed by 11:59 p.m. Monday.
Aldridge averaged 17.3 points and 7.3 rebounds per game last season, each of which were his lowest since his rookie year. It was his first time in the past six seasons that he wasn't selected to the All-Star game.
He especially struggled in the postseason, averaging just 11.3 points and 5.3 rebounds in three games against the Golden State Warriors in the Western Conference Finals after Kawhi Leonard went down with an ankle injury.
The Spurs even spoke to at least three teams about a potential trade this summer, per Ramona Shelburne and Michael C. Wright of ESPN.
Despite his season-long struggles, though, the 32-year-old still ranked second on the team in points and rebounds while leading the way in blocks per game. His 41.1 percent shooting from three-point range was also the best mark of his career after he went 0-of-16 the year before.
Chris Towers of CBS Sports provided an interesting take on the forward:
Aldridge has been a key part of the Spurs' success over the past two years and can help the squad remain a contender going forward if they sign him to an extension.