NFL Insider Jay Glazer is reporting the Seahawks have agreed to terms with former Vikings WR Sidney Rice, on a 5 year deal. He feels it's worth noting it isn't signed yet, but that's a given, no FA contracts can be signed until Friday. Also, from other reports we've heard it seems the Seahawks are looking to have Rice work out, which means they want to give him a full medical before signing the contract. If his hip is still a problem, the deal could still fall through (and it can still change for other reasons, this is only an agreement).
Schefter reports the deal is up to $44 million over those five years, with $18.5 million guaranteed. Jason LaCanfora further details that of the $44 million, $3 million is in pro bowl escalators. Sean Jensen confirms the contract is pending a physical. The contract compares well to Santonio Holmes' 5-year, $50 million contract with $24 million guaranteed).
We've discussed throughout the season how the Seahawks could do well with a #1 WR. Sidney Rice is an interesting fit. He is an injury concern, having missed quite a few games in his career, but he is young and has one very impressive season to his name. In 2009, he caught 83 balls for 1312 yards and 8 TDs. Rice's upside is basically Arizona's Larry Fitzgerald, a kind of super-possession receiver. Not a great deep threat (though Rice is certainly fast enough), but someone who makes very valuable catches in very difficult situations. Seahawks fan Doug Farrar recently did a good writeup on Rice, go and read it if you want to learn to know the WR.
Barring injury problems (and the deal falling through), this gives us a pretty great starting couple in Sidney Rice and Mike Williams. Both are big receivers skilled at outreaching cornerbacks and making catches in difficult situations. This is great for a mediocre QB situation like we have, all the QB has to do is toss it up there, to either one, and most of the time they'll come up with the ball.