The agent for Indianapolis Colts wide receiver T.Y. Hilton said Tuesday talks with the team about an extension for the fourth-year player are progressing.

This comes a week after Colts owner Jim Irsay said there was a good chance the team would be able to strike a new deal with Hilton by Labor Day.

"I don't want to characterize the negotiations other than we're working hard at it," agent Drew Rosenhaus said, via ESPN. "Talks have been really productive. I've got a lot of respect for (general manager) Ryan (Grigson) and Jim. They do a great job. I would guess (Labor Day) would be outstanding. That's a good time frame."

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Hilton is coming off a Pro Bowl season in which caught 82 passes for 1,345 yards and seven touchdowns. He's one of a group of Indianapolis core players entering the final years of their contracts, including left tackle Anthony Castonzo and tight ends Coby Fleener and Dwayne Allen.

"T.Y. loves playing for this organization," Rosenhaus said. "All the parties involved want the same thing as far as T.Y. playing for the Colts. It's not the first time that I've come here to visit in the last couple of weeks in the hopes of trying to get an extension done for T.Y. But I also wanted to come out and see some of the other guys."

Rosenhaus represents a number of Colts, including running backs Frank Gore and Josh Robinson, cornerback Darius Butler and offensive lineman Donald Thomas.

(h/t ESPN)