Richard Sherman’s extension will make him easily the highest paid cornerback in terms of average salary at 14 million dollars yearly (4 years, 56 million added on to the one year remaining on his current contract). It’s a lot of money, especially when you include that 40 million of it is guaranteed, though the Seahawks will have options to get out of his 2015 and 2016 salaries within 5 days of the Super Bowl. However, Sherman deserves to be the highest paid cornerback in the NFL.
In 3 years in the NFL, Richard Sherman has allowed 115 of 248 (46.4%) for 1621 yards (6.54 YPA), 8 touchdowns, and 20 interceptions, while deflecting 34 passes and committing 26 penalties. No other NFL cornerback really comes close to that, with the exception of Darrelle Revis, who has allowed 43.1% completion, 5.41 YPA, and 12 touchdowns, while picking off 20 passes, since 2008. Sherman is essentially Revis with better ball skills, less of an injury history, and 3 years younger, only going into his age 26 season.
He deserved to get more than the 12 million yearly Darrelle Revis got from the Patriots. It’s hard to say that 56 million over 4 years is a great value, but it’s appropriate and the Seahawks really did need to keep him. The guaranteed money seems like a lot, but, again, it’s not all fully guaranteed and this deal only takes Sherman through his age 31 season so it’s unlikely, barring injury, that the Seahawks will see the need to let Sherman go at any point throughout the duration of the guaranteed money.