Earlier in the day, Jason Jones of the Sacramento Bee offered up a quick report that a deal could be close. Now, Jim Trotter of Sports Illustrated claims Asomugha's agent, Tom Condon, has already forwarded a potential contract to the NFL for approval.
According to Trotter, the deal could guarantee the 27-year-old corner $26 million over the next two seasons. Trotter also reports that the deal could include an out-clause that would enable Asomugha to become a free agent after the 2010 season.
If this gets done, it's a gigantic step in the right direction for the Raiders, as Asomugha is clearly the best player on the team and one of the best players in the league at his position. He's only intercepted two passes the previous two seasons, mainly because nobody throws to his side of the field due to his incredible coverage skills.
It's been a somewhat busy offseason for the Raiders to this point, as they've already signed Chris Johnson to a four-year contract, and on Wednesday made Shane Lechler the highest-paid punter in NFL history. The jury is still out on Johnson's deal, but managing to keep Asomugha and Lechler in the mix is quite a score the Raiders.
UPDATE: Adam Schefter of NFL Network reports the Raiders and Asomugha have come to an agreement on a three-year deal worth between $45 and $50 million.
The first two years, worth $28.5 million, are fully guaranteed. In the third year of the contract, if Oakland wants to keep Asomugha, it must pay him the average of the top five highest-paid quarterbacks in the game or $16.875 million - whichever is greater. If the Raiders fail to pick up the option, Asomugha will become a free agent, with Oakland not having the ability to tag him again.Big day for the Raiders.