According to The Athletic's Jeff Schultz, the Falcons told Jones "they have no plans to give him the raise that he is seeking before the 2018 season" after emphasizing "they had not budgeted for a renegotiation this offseason and would not/could not rework his contract at this time."
Jones, 29, is set to enter the third year of a five-year, $71.3 million extension he signed prior to the 2015 season. That deal includes $47 million guaranteed, a figure that ranks tied for third among all receivers.
But in terms of his individual cap hit, Jones won't be paid like a top-five receiver.
As things stand, Mike Evans ($18.3 million), Larry Fitzgerald ($16.8 million), Jarvis Landry ($15.5 million), DeAndre Hopkins ($14 million), A.J. Green ($13.7 million) and T.Y. Hilton ($13 million) will all have higher cap hits than Jones ($12.9 million) this season.
Plus, recent shifts in the market have indicated Jones is worth more than he's currently earning.
Not only did Landry snag a five-year, $75.5 million deal with the Browns, but Brandin Cooks also just inked a whopping five-year $80 million extension with the Los Angeles Rams.
Dating back to his debut in 2011, Jones and Antonio Brown are the only receivers who have totaled at least 550 receptions, 9,000 receiving yards and 40 touchdowns.
Jones skipped the Falcons' optional offseason workout program and June's mandatory minicamp after word of his desire for a new deal trickled out.
According to Schultz, the club is hopeful he will be in attendance when veterans report to training camp July 26.