The Welshman's contract with Team Sky ends this season and following his impressive campaign in the spring Classics and his potential as a stage race rider, he has attracted serious offers from several teams.
Under UCI rules, a rider cannot sign a new contract until after August 1 but agreements are often reached earlier than that and then officially signed within the official UCI transfer window.
Cyclingnews understands that both Garmin and Saxo Bank tried to sign Thomas two years ago but he opted to stay with Team Sky. Thomas has developed via the British Cycling and Team Sky system. He is unlikely to leave Team Sky but has revealed to BBC Wales he has three or four contact offers as well as a proposal to stay at Team Sky.
"I'm obviously speaking to Sky at the moment and I think it should be sorted this week with where I go," Thomas said.
"Obviously Sky is a great team but I think it's good to have a look at other teams and what they have to offer. It gives your confidence a boost when there's three or four teams that have offered you a good contract, so interesting times."
Team Sky manager Dave Brailsford revealed to Cyclingnews in February that he is working hard on the team's roster for 2015.
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"We've got eleven guys out of contract this year and we're constantly trying to build and improve the team," Brailsford told Cyclingnews.
"We've got some great riders we want to re-contract and so keep the nucleus of the team together. But there are also opportunities to see if you can bring someone else in."
"There are new challenges coming up and new riders are coming through. The minute you think you've got the right solution to everything is the minute you start losing."
Team Sky will retain its British core but Brailsford reiterated that British riders will have to earn their place on merit, not thanks to their nationality.
"I think you've got to look at ability first. That's what matters and you go from there. That's how I've always worked and it's the rule we'll use again for the future of Team Sky."
Thomas is set to secure a role in Chris Froome's Tour de France squad and is expected to return to racing at the Bayern-Rundfahrt stage race he won in 2011. He has revealed he will also ride the time trial and road race for Wales at the Commonwealth Games immediately after the Tour de France.
Stephen is the most experienced member of the Cyclingnews team, having reported on professional cycling since 1994. He has been Head of News at Cyclingnews since 2022, before which he held the position of European editor since 2012 and previously worked for Reuters, Shift Active Media, and CyclingWeekly, among other publications.
