Update: Seahawks & CB Richard Sherman Still Have Work To Do Regarding An Extension

Update:

Mike Florio of Pro Football Talk, citing a source with knowledge of the situation, reports that although progress between the Seahawks and CB Richard Sherman has been made in recent weeks, it’s “nowhere near what has been reported.”

• Florio adds that, as of now, a consensus regarding the amount of money and the terms of the contract haven’t been reached.
• Ian Rapoport reports that there is still a “lot of work” to be done between the two sides.

Last year, Sherman appeared in all 16 games and totaled 49 tackles, eight interceptions — one of which was returned for a touchdown — and 16 pass defenses.

Pro Football Focus has Sherman rated as the No. 6 cornerback in the league last season.

We’ll have more regarding a contract extension for Sherman as the news is available.

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Jason La Canfora of CBS Sports reports that the Seahawks and CB Richard Sherman have made “considerable progress” on a contract extension that would make him the highest paid cornerback in the league.

• La Canfora adds that Sherman’s next contract is expected to pay him over $13 million per year and could be in place before the draft.
• The two sides are reportedly maintaining “good dialogue” as they work on an extension, according to La Canfora.
• Mike Garafolo confirms that the two sides are making progress and the expectation is that it will be done soon.

Previous reports mentioned that the Seahawks were likely to address S Earl Thomas‘ contract before turning their attention to Sherman, but apparently that’s not the case.

Sherman, 25, is entering the final year of his rookie contract and is clearly in the argument for the best cornerback in the league. As things stand right now, Sherman will make $1.389 million for the 2014 season.

Assuming these figures are accurate, Sherman’s contract would best the $12 million per year Darrelle Revis received from the Patriots this offseason.