NFL Network's Tom Pelissero reported Sharpe will receive $675,000 guaranteed and could earn up to $1.5 million if he triggers all of his incentives.
The 25-year-old's arrival probably won't preclude the Vikings from targeting a wide receiver early in the 2020 draft. Minnesota has the No. 22 and 25 overall picks, the former of which it acquired from Buffalo.
This year's draft is loaded with skilled pass-catchers. Bleacher Report's Matt Miller listed five wideouts among the top 21 players in his most recent big board. Four more receivers cracked the top 50.
In terms of free agency, the Vikings had limited options at this point of the offseason.
Two of the best players still available found new homes Tuesday. ESPN's Adam Schefter reported the Carolina Panthers agreed to a two-year, $20 million deal with Robby Anderson. Schefter subsequently confirmed with agent Drew Rosenhaus that Breshad Perriman will sign a one-year contract with the New York Jets.
Sharpe doesn't have gaudy numbers through his first three years (92 receptions, 1,167 yards, eight touchdowns). He had a career-high 71.4 percent catch rate in 2019, though, per Pro Football Reference.
Assuming he's not the final addition to Minnesota's passing game, Sharpe is a sensible signing, especially if a change of scenery helps his game improve.