The star shortstop is scheduled to become a free agent following the 2021 campaign. However, the Rockies don't have the budget for any big signing at this point in time, according to Jon Heyman of MLB Network.
Story, 28, is primed to be one of the biggest names available next offseason. The two-time All-Star owns a career .877 OPS and hasn't finished lower than 12th in NL MVP voting over the last three years.
Colorado's payroll sits at just over $104 million for this season, per Spotrac. The club will reportedly pay Nolan Arenado's $35-million salary during his first year with the St. Louis Cardinals following a blockbuster deal in late January.
Story, whose name has also popped up in trade rumors, admitted he was frustrated after seeing the franchise cornerstone dealt away.
Meanwhile, the Rockies failed to sign any free agents to major-league contracts over the winter, while the division rival Los Angeles Dodgers and San Diego Padres bolstered their rosters for a World Series run.