http://msn.foxsports.com/nfl/story/5384774Jay Glazer / FOXSports.com
Posted: 5 minutes ago
The No. 1 free agent on the open market is now off the market.
FOXSports.com has learned that the Seattle Seahawks have agreed to terms with Pro-Bowl running back Shaun Alexander on a whopping eight-year, $62 million deal that includes in excess a total of $15 million in the first year in bonuses (signing and roster) and salary.
The Alexander deal is not contingent upon a new CBA getting done as the Seahawks have the necessary cap space to make such a move. However, the contract still has to get approved by the NFL front office and Alexander needs to sign the contract.
NFL MVP Shaun Alexander will return to Seattle and help the Seahawks try to get back to the Super Bowl. (Harry How / Getty Images)
The league's MVP was wise to take such a deal as the running back market in free agency will likely be much lower than several big-named veterans may think. In addition, Alexander didn't want to leave the Seahawks.
Alexander broke the NFL's single-season touchdown mark this past season, helping push the Seahawks to the NFC title. Now Seattle must turn their attention to Pro-Bowl guard Steve Hutchinson.
It's unclear how the deal is structured with regards to how much cap space this deal takes up in the first year of the new contract. Seattle had a decent amount of salary cap room heading into this free agent period.
Now that Alexander is off the market Edgerrin James, Chester Taylor and Jamal Lewis as well as DeShaun Foster (transition tag) will try to follow up in a very slim market.
SEATTLE -- NFL Most Valuable Player Shaun Alexander has agreed to a $62 million, eight-year contract to remain with the Seattle Seahawks, his agent said Sunday night.
Jim Steiner said the deal is the richest ever for an NFL running back and will net the league's leading rusher over $15.1 million in guaranteed cash..........................................
"They definitely wanted to do this," Steiner said of the Seahawks bringing back Alexander, who set an NFL record with 28 touchdowns last season. "And Seattle was Shaun's first choice all along."
Hawks RB Shaun Alexander hasn't signed anything yet, so it's pretty tough to verify numbers. So far we have heard about an eight-year, $62 million deal with about $15 million in the first year. Here is how I expect things to break down: about $11 million in signing bonus and the other $4 million (or so) in first-year money divided across base salary and roster bonus. If my unofficial calculations are correct, the first-year cap hit shouldn't stray too far from the cap hit produced by the one-year, $6.323 million deal Alexander played under last season.
Alexander will probably receive somewhere around $22-23 million over the first three years of this deal.
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