Wright is among a list of key names at Tullamarine that remain unsigned beyond the end of this season, with the 203cm forward arguably the club's biggest retention target.
Star midfielder Darcy Parish and hard-nosed defender Mason Redman are also among the list of off-contract Bombers, seeing 2023 as a critical year for list manager Adrian Dodoro as Essendon plan for their future under senior coach Brad Scott.
Wright, now entering his third season in the red sash, is in line for a significant paycheque after a career-best campaign in 2022, where he booted 53 goals to finish fifth in the Coleman Medal standings.
Essendon were assisted by the Suns in having to pay just a portion of Wright's contract for the last two years, but 2023 will see the Victorian club take on his entire salary load.
Now needing to iron out a new deal for the years to come, the Bombers and Wright's management have begun negotiations but are still needing to see eye-to-eye on Wright's value.
“We are having conversations with Essendon with Peter,” Mac's Sports Promotions' Anthony McConville told News Corp.
“It is taking a bit of time. Clearly he's coming off a career-best season and top five in the Coleman with a best-and-fairest.
"It is getting to what his true value is. He hasn't come at a huge cost to Essendon and Peter backed him in and now it's for Essendon to consider what his value is and they know that.”
Essendon will also be needed to resolve contract questions for the aforementioned Parish and Redman, along with sophomore duo Ben Hobbs and Massimo D'Ambrosio, emerging forward Harrison Jones and current skipper Dyson Heppell also among those having their contracts expire this year.
Like the Bombers, McConville has a host of key names needing to finalise their futures from next year, with young Hawk Will Day joining Wright in being unsigned in the MSP stable.
Day is among the emerging ranks at Hawthorn expected to take on a more senior role in Sam Mitchell's second season at the helm, with the club parting ways with senior personnel in the off-season as it looks to place a focus on youth.
The 21-year-old is set to share his 2023 campaign between midfield and the backline, and will hope to enjoy a season without injury setbacks after an interrupted past 24 months.
Tipped for a breakout season, Day is expected to hold off on making an official call on his future until the end of the year as he prioritises his on-field efforts.
“We expect big things from Will this year as I am sure he does," McConville said.
"He played 17 games and was hampered by a few niggles and knocks but it was nothing to do with conditioning. The club is hoping he is going to get some luck in the running.
“All things going well we would like to see where it lands come the end of the year. We don't have any strict timelines on what we are doing but there will be nothing in the immediate period.
“He has got a huge amount of potential and it's about giving him every opportunity to show that potential and a bit of luck is required with that.”
Day has played 33 games in three seasons with the Hawks, averaging 16.48 disposals, 3.00 rebound 50s and 4.27 marks for his career.