Back in June, Tampa Bay Buccaneers receiver Mike Williams believed he was on the verge of a contract extension.

“All I can say about it is that it’s very close,” Williams said at the time.

Now, though, according to PewterReport.com, the Bucs and Williams don't appear to be making signficant progress toward finalizing an extension, meaning the wide receiver might have to play out the final year of his rookie contract before a new deal is forthcoming from the Bucs or he explores free agency.

The Bucs still have the franchise and transition tags at their disposal, but they might not want to pay the franchise-type money to Williams with lots of money already tied up in Vincent Jackson at the receiver position.

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Terry McCormick covers the Titans for TitanInsider.com