Heading into the final season of his contract with the Minnesota Vikings, veteran quarterback Kirk Cousins is looking to ink a new extension with the franchise. Unfortunately, the only finance-based transaction made between the two parties so far this offseason has been a recent cap conversion on his current deal, sources tell NFL insider Ian Rapoport.

The Vikings have restructured the current framework of Cousins' contract for the upcoming campaign, thus creating additional salary cap room for the franchise to work with as they make their way through the new league year.

As is the case with many cap conversion scenarios, a portion of his expected $30 million salary for this season will likely be converted into bonuses, which would not impact the club's cap situation.

Of late, the cash-strapped Vikings have seemingly been on a mission to create some extra financial wiggle room. Just recently, they released veteran wide receiver, Adam Thielen. Unfortunately for them, however, such a decision will hold a dead cap hit of $13.5 million.

Though it's evident that there's mutual respect between Kirk Cousins and the Vikings, their reaching an agreement on an extension does not seem likely.

In a recent appearance on Good Morning Football, team owner Mark Wilf addressed the 34-year-old's future in Minneapolis. When asked point blank what the plan for Cousins beyond the upcoming season is, Wilf played things rather coy.

“Kirk’s an outstanding quarterback. He’s done a great job for us this past season, I think, with Kevin O’Connell. He took our offense to the next level so we’re looking for great things in [2023] and Kirk’s going to be our leader on the offense,” Wilf said.

The 11-year veteran is coming off yet another impressive season as the franchise signal-caller for the Vikings. Through 17 games, Cousins registered 4,547 passing yards and 31 total touchdowns and finished with a quarterback rating of 92.5.

With the four-time Pro Bowler under center, Minnesota went 13-4 and was crowned as NFC North champions for the first time since 2017.