Seattle Seahawks cornerback Richard Sherman signed a four-year, $57.4 million contract on Wednesday that makes him the NFL's highest-paid cover man.
Sherman said the deal includes $40 million in guaranteed money.
"The goal has always been to stay in Seattle and continue to play for the Seahawks," Sherman wrote on his blog. "With this chapter closed, I can continue to focus on what is important -- defending our Super Bowl Championship and being the best cornerback in the NFL.
"This is a great moment for my family, foundations and the people who supported me to this point. Hard work and execution got me to this moment, the Seattle Seahawks have backed up that respect with this contract. The terms of my deal are 4 years for a total of $57.4M with $40M guaranteed. There is no other city or team that I would want to play football for."
Seahawks general manager John Schneider and head coach Pete Carroll attended Wednesday's press conference alongside Sherman.
"This is truly a great American story right here," Schneider said. "I'm personally very happy for Richard. For his family. I look forward to a bright bright future with Richard and the whole defensive backfield and the whole team."
Sherman, 26, has emerged as one of the NFL's top defensive players since being selected by Seattle in the fifth round of the 2011 draft.
"This is a great moment for the family -- for Richard, for the club and all that," Carroll said. "It's also a great statement about a young man that really demonstrated an extraordinary belief in himself and dedication. ... He's really special. He's a tremendous teammate."
The 6-foot-3 Sherman led the league with eight interceptions last season when the Seahawks won their first Super Bowl championship in franchise history.
Sherman made $555,000 in 2013 and was scheduled to earn a $1.431 million base salary this season.
Sherman's deal comes two weeks after the Seahawks wrapped up a four-year, $40 million contract with Earl Thomas that made him the highest-paid safety in the league.