According to Michael McCarthy of Front Office Sports, Romo's contract expires following the 2019 season, meaning he could become a free agent at the conclusion of the campaign.
Upon retiring from the NFL as quarterback of the Dallas Cowboys, Romo was immediately inserted as CBS' No. 1 NFL color commentator in 2017 alongside Jim Nantz, and he has been roundly praised for his work ever since.
Romo's savant-like football knowledge and ability to call plays before they happen have been his hallmarks.
Although talks have stalled, McCarthy noted the "odds are still very good" that Romo will re-sign with CBS at some point. There is reportedly mutual admiration from both sides, and Romo is close friends with Nantz, as they share a "mutual love of football and golf."
Romo has not commented publicly on his contract status, but he did tell Front Office Sports: "I love football. I love working for CBS. I love the fact that I get to be an analyst doing football games."
McCarthy reported that Romo is looking for a significant raise from the $4 million per year he currently makes to $10 million per year. That would make him the highest-paid NFL analyst, ahead of fellow former Cowboys quarterback Troy Aikman, who makes around $7.5 million per year at Fox.
While one source indicated to McCarthy that Romo is deserving of $10 million per year, another said he is more likely to get around $7 million or $8 million.
CBS reportedly has the right to match any offer Romo receives.