Nicki Jhabvala of The Athletic provided a breakdown of what the new contract could entail:
Harris currently has a base salary of $7.8 million and a cap hit of $8.77 million for 2019 before becoming an unrestricted free agent in 2020, per Spotrac.
A new deal would seemingly encourage the player to return to the team after this season instead of testing the open market.
Adam Schefter of ESPN reported prior to the draft that Harris requested a new deal or a trade, but it appears as though the organization wants to keep him on the roster.
The 29-year-old's impact on the team is obvious, having earned four Pro Bowl selections over the past five years. He was also named first- or second-team All-Pro three times in this stretch while playing a key role on the 2015 Super Bowl-winning squad.
Though slightly undersized at 5'10", Harris has excelled at defending the slot while becoming arguably the best in the NFL at this role:
He has also remained consistent throughout his time in the NFL, appearing in 123 of 124 possible games to start his career until a broken leg ended his 2018 season after 12 games.
The Broncos obviously have faith he will fully recover and once again star in the defensive secondary.