Bell rushed for 1,291 yards, had 655 receiving yards and scored 11 touchdowns last season, and Kinkhabwala said he wants to be paid as a rusher and a receiver.
"Everybody associated with this has said that the Steelers want to do a long-term deal," Kinkhabwala said. "In fact, I spoke to (head coach) Mike Tomlin earlier today and he said, 'Everybody knows we're in the business of trying to lock him up for the rest of his career.' However, as (general manager) Kevin Colbert ... told the local media, there's no urgency right now, and here's why: Le'Veon Bell wants $17 million a year.
"He wants to be paid exactly like (Steelers wide receiver) Antonio Brown is paid. So the Steelers are saying, 'Well, we're going to wait a little while before we address that fully' because clearly the Steelers don't feel that that's where Bell's value is."
Bell was the NFL's highest-paid running back last season at $12.1 million on the franchise tag. If Bell is franchised again this season, he will make $14.5 million.
The Steelers reportedly offered Bell a long-term deal worth $12 million per season last summer, and they are exploring other options even as they insist they want to keep him.
The Steelers plan to meet next week with LSU running back Derrius Guice, a potential first-round draft pick.
Bell has said he will not go to training camp without a new contract, but that he has no plans to sit out the season.