The team has the upper hand here as they have him signed to a contract with a fifth year option. I think the wisest move would be to exercise that fifth year option, tell Murray and his agent that we are not interested in offering any type of extension at this point. Place the ball back into their court and see how they respond. If Murray threatens to hold out, then you know all that stated desire to lead the team to playoffs and Super Bowls was just hooey. If Murray really thinks he's the one to lead the team to the promise land then he would step up and work toward that end knowing that if he does then he controls what kind of contract he can demand.
If team Murray decides to play hardball with threatened holdouts and sitting out the season, it speaks volumes about where he's really at and it's all about how much can I fleece the team for and get a big payday. For me, asking for $150 million guaranteed is a telling sign of where exactly they Murray and his agent are coming from. In fact the team should make a decision quickly so if team Murray decides to walk away from the 2022 season the team has time to find a capable QB to fill in for 2022.
I think the worst thing the team can do is cave in and give him a contract anywhere near what they are asking for.