According to The Daily Telegraph’s Travis Meyn, the 26-year old has attracted offers worth up to $900,000 a season from rival teams.
The Storm want to re-sign Hughes but it is believed that they would only be prepared to offer him $600,000-$700,000 a season.
“Talks were pretty promising before Christmas, it’s still early days but they were promising,” Storm football chief Frank Ponissi told The Daily Telegraph.
“We’re hopeful and things were positive. We will take it up again now.
“We’re confident he will stay. So far the discussions have been really positive and there’s nothing to suggest we should be concerned.
“Hopefully by the start of the season we can come to something. Both parties are comfortable with where the position is now.“
The halfback is one of the most in-demand free agents after playing a key role in the Storm’s 2020 premiership run.
Hughes is looking to sure up his future with a long-term deal and would have to make a considerable financial sacrifice to stay at Melbourne.