According to The Athletic's Sahadev Sharma, David Kaplan of ESPN 1000 recently said that the Cubs approached Bryant "in the last several months" with an extension offer worth "well north of $200 million."
Sources indicated to Sharma that the rumors are "simply not true."
Sharma noted that while the Cubs have approached Bryant about a potential extension during previous offseasons, there was never any progress.
He added the Cubs have long expected Bryant to test free agency when eligible at the end of the 2021 season because of the influence from superagent Scott Boras.
The 26-year-old Bryant is coming off his worst MLB season due primarily to a shoulder injury that plagued him after a red-hot start. In 102 games, Bryant hit a career-worst .272 with a career-low 13 home runs and 52 RBI.
It was a far cry from the 2016 campaign in which he hit .292 with 39 homers and 102 RBI en route to being named the National League MVP.
Bryant also helped the Cubs end their 108-year championship drought that season by beating the Cleveland Indians in the World Series.
The 2013 No. 2 overall pick has three seasons to bounce back and prove that he deserves a massive contract, while the Cubs also have plenty of time to discuss a potential deal that would prevent him from hitting the open market.