Patrick Peterson and the Arizona Cardinals are in the early stages of negotiating a contract extension.

Peterson said he believes he's worth more than fellow cornerback Richard Sherman.

The three-time Pro Bowler said he and Sherman are in different stages of their contracts, which means Peterson's camp has more time to negotiate. Sherman had a year left on his rookie deal when Seattle re-signed him to a four-year, $57 million extension with $40 million guaranteed last week, while Peterson has two years remaining after Arizona exercised a team option for 2015.

Peterson said he "kind of" had a smile on his face when he saw the terms of Sherman's deal.

"I'm making OK money right now, but I'm just not making his money right now," Peterson said with a laugh.

Peterson will make $2.88 million in 2014 and $10 million in 2015.