Jay Glazer of Fox Sports has announced that cornerback Richard Sherman has signed a four year contract with the Seattle Seahawks to make him the highest paid cornerback in the league. This comes shortly after the Seahawks extended safety Earl Thomas to make him the highest paid safety in the league.
Lots of money, and there's still quarterback Russell Wilson to sign to a long term extension, likely for more money than both Thomas and Sherman.
Ian Rapoport of the NFL Network is saying that Sherman can expect more than Patriots' cornerback Darrelle Revis' $12 million in 2014, which likely means that he'll be receiving more than that each season. The Buccaneers' refusal to pay Revis $16 million in 2014 will likely place a ceiling on Sherman's contract.
The Patriots will be following this deal closely because Revis will need to be restructured for next season. He's currently on the books for a $20 million option season in 2015, which means that the team will either have to let him loose, or extend him to reduce that exorbitant cap hit. Revis will want to match, or exceed, Sherman's deal so the final money is extremely important.
Per Sherman himself, the contract is for a total of $57.4 million and a record $40 million guaranteed. $14.35 million per season APY is likely Revis' upcoming contract floor.