Wouldn't make much sense either. He's likely going to be worth 4-times the value after this season than he is right now. So if you're G.O. you're waiting to finally get some minutes to get that big extension, not trying to get some tiny $5M/year contract for fear of not knowing what you'll get.
It's like your boss telling you that you're going to likely get a $5,000 bonus next month and you not telling your wife, but then asking her how much money she's OK with you taking out to go blow on some tools at Sears this weekend. Versus the response you would get when you wait a month until you get the $5,000 in hand and then you ask your wife how much you can go blow. You'll get two entirely different answers, and you might as well wait until the first has come to pass then say, "Show me the money".