Patrick Peterson and the Arizona Cardinals have agreed upon a five-year contract extension worth as much as $70 million.

The deal contains $48 million in guaranteed money and makes Peterson the NFL's highest paid cornerback.

The deal will surpass extensions signed recently by the Cleveland Browns' Joe Haden (five years, $68 million) and Seattle Seahawks' Richard Sherman (four years, $56 million).

Peterson, who was selected fifth overall in 2011, became the first member of that highly successful first-round class to sign an extension.

The Arizona Cardinals will stop using Patrick Peterson as their full-time punt returner and he also won't play offense at all this season.

“My duties are now done,” Peterson said. “But I am completely OK with it.”

Peterson is one of the NFL's best young cornerbacks.

“Do I feel I am the best cornerback? Absolutely,” Peterson said. “That answer is never going to change. But that conversation is always going to come up.

“At the end of the day I don’t believe any of those guys are going to say, ‘This guy is better than (me).’ As a man, I can’t fathom putting another guy in front of me.”

Brill Barnwell has released his 2014 NFL Trade Value rankings, headlined by Russell Wilson at No. 1 and Andrew Luck at No. 2.

Wilson is ranked ahead of Luck because he is still two years away from being paid market value.

Aaron Rodgers is ranked No. 3, though Barnwell writes that he would rank him as the most talented quarterback in the NFL right now. But Rodgers is 30 and makes far more money than younger, cheaper quarterbacks.

J.J. Watt is the first defensive player on the list and ranks No. 4.

Colin Kaepernick and Cam Newton are ranked No. 5 and No. 6 respectively. 

Robert Quinn is at No. 7 as the second-highest ranked defensive player.

Peyton Manning, Matt Ryan, Drew Brees and Tom Brady rank No. 8-No. 11.

Here's the rest of Barnwell's top-50:

12. Patrick Peterson

13. Earl Thomas

14. Richard Sherman

15. Robert Griffin III

16. A.J. Green

17. Calvin Johnson

18. Von Miller

19. Philip Rivers

20. Eli Manning

21. Ben Roethlisberger

22. Joe Thomas

23. Joe Staley

24. Luke Kuechly

25. Greg Hardy

26. Jadeveon Clowney

27. Jimmy Graham

28. Tyron Smith

29. Duane Brown

30. Julio Jones

31. Dez Bryant

32. Tony Romo

33. Matthew Stafford

34. Patrick Willis

35. Darrelle Revis

36. Lavonte David

37. Demaryius Thomas

38. Muhammad Wilkerson

39. Trent Williams

40. Joe Haden

41. Nate Solder

42. Adrian Peterson

43. Ryan Tannehill

44. Mike Iupati

45. Ndamukong Suh

46. Gerald McCoy

47. Dontari Poe

48. Sheldon Richardson

49. Jim Harbaugh

50. Nick Foles

Larry Fitzgerald was rumored to be moving from the Arizona Cardinals to the New England Patriots as last year's trade deadline.

Fitzgerald was never approached by the Cardinals.

"Nothing at all. I mean, I heard stuff that was being said," Fitzgerald said. "But there was never a time where the team approached me. Nothing like that."

An offseason contract restructuring means Fitzgerald's cap hit for 2015 will be an untenable $23.6 million. 

"[I view 2014] like I view every year. I just cherish every moment I have on the field," Fitzgerald said. "It's what I love to do. I really enjoy it. It's fun to go out there and compete and be around the guys every day. I just cherish that. So, whatever happens after the season, happens after the season. But most of that stuff is out of my control anyway."