I'm not saying Geno doesn't deserve 33m a year, which puts him around the top 10-11 QB per year salary range.
But my guess is Pete and John not only want to see how he plays the rest of the season, but they want to see what the market is for Geno before offering this much.
They do this with a lot of guys, tell them to go test the market but give us the chance to sign you if it's within our range. If some team wants to get stupid like what happened with Griffin and the Jags? No thanks, but I'd imagine Geno will give us the last chance to sign him after he and his agent explore free agency.
Because if the market for Geno isn't what they think it is and other GM's don't think Geno will play as well as he's playing here with their coaches and offensive system? Then we can probably resign Geno for much less than 33M a year.