According to The Athletic's Jared Weiss, Williams had the opportunity to cash in on a contract extension but turned it down.
"Williams' representatives and the team discussed an extension before the season that could have reached the low-$50 million range over four seasons but could not agree on the guarantee structure, league sources with knowledge of the negotiations said," Weiss stated.
Weiss further explained how Williams' overconfidence might come back to bite him, stating, "When the season began, Williams had turned down an extension offer and was flexing his newfound ability to attack closeouts with creativity. But things have gone south since, coincidentally timed with a report Williams is seeking up to $20 million annually, per Marc Stein."