Tom Pelissero of NFL Network reported more financial details on Sherman's contract:
49ers general manager John Lynch followed the report with a picture with Sherman:
Sherman was released by the Seattle Seahawks on Friday after seven years with the organization that selected him in the fifth round of the 2011 NFL draft.
The Stanford product provided immense value for the Hawks, especially considering the small investment of a late-round pick. He emerged as one of the league's most valuable defenders, earning four Pro Bowl invitations and three First Team All-Pro nods.
He, along with Byron Maxwell, Kam Chancellor and Earl Thomas, helped establish the Legion of Boom—the team's physical, playmaking secondary. The pinnacle moment came in Super Bowl XLVIII when they completely shut down Peyton Manning and the high-powered Denver Broncos in a 43-8 win.
In all, Sherman racked up 367 combined tackles, 99 passes defended and 32 interceptions across 105 regular-season games with the Seahawks.
The 29-year-old California native remained a borderline No. 1 corner last season; Pro Football Focus graded him as the NFL's No. 33 CB—before an Achilles injury ended his campaign in November.
Schefter added despite the Achilles, Sherman is expected to be ready for training camp.
Sherman posted a list of his statistical accomplishments on Twitter after the release:
While there are legitimate questions about his ability to reach peak form after the Achilles surgeries, his results speak volumes about the type of impact he can make if anywhere close to full strength.
It's a risk worth taking for the Niners. Sherman has the potential to provide the secondary with a massive boost after the team finished 22nd in passing yards allowed per game last season.
He should slot in as the top corner in San Francisco, giving the defense a solid one-two punch on the outside with Ahkello Witherspoon. He'll also get the opportunity to face off with the Seahawks twice during the regular season by staying in the NFC West.