WWE hasn't offered Adam Cole long-term extension yet (Patreon)

Much has been made of Adam Cole's contract situation with the company. Most, including Cole we're told, had hoped to keep the situation quiet and it seemed there was an understanding that it'd be kept close to the vest. Others, when finding out the situation, argued that the possible expiry of the deal should be publicized, considering the competitive nature of the wrestling world. By the end of July, word had spread that Adam Cole's new "agreement" was set to run through Summerslam. WWE sources confirmed that Cole has not formally been offered a full on, new contract by WWE as of yet, but were told "it's obviously planned" by a person of influence within WWE.

It should be reiterated that all indications are that Cole and the higher ups in NXT have great relationships.