Alexander signed an eight-year, $62 million contract on Monday, keeping the NFL MVP with the NFC champions.

Alexander's agent, Jim Steiner, told The Associated Press on Sunday night that the contract includes over $15.1 million in guaranteed cash, through signing and other bonuses and 2006 base salary. The $62 million total exceeds the eight-year, $60 million contract LaDainian Tomlinson signed with the San Diego Chargers in 2004.

"This contract is truly a blessing. To be the highest running back ever is quite an honor," Alexander said during a press conference at team headquarters. "It's pretty good."

Always jovial, Alexander talked about making multiple Super Bowl trips with the Seahawks, but also acknowledged he probably could have made more by leaving Seattle as a free agent.

"Everybody knew this is my city," Alexander said. "I wanted to play here and my goal when I first got here was to do stuff Seattle had never seen before.

"It's really simple. When you have good people and everybody is going after the same things, it's easy to make the decision about coming in."

It was also widely assumed Alexander would command over $20 million in guarantees - given that last offseason, Seattle sprang for a $16 million bonus to re-sign Pro Bowl quarterback Matt Hasselbeck and another $20 million-plus in bonuses to keep perennial Pro Bowl tackle Walter Jones.

Both Steiner and the organization declined to reveal the specific breakdown of the contract, but team president Tim Ruskell said the contract still keeps the Seahawks in good salary cap position.

Seattle was more than $10 million under the cap before Alexander's deal. The uncertainty with the league's collective bargaining agreement and the twice-postponed deadline for free agency affected the timeline of the deal slightly, but not the terms, Ruskell said.

Alexander was designated the Seahawks' franchise player before last season and then signed a one-year deal for $6.323 million.

In his first year with the Seahawks, Ruskell wanted to see how Alexander fit in the organization. The running back then ran for a league-high 1,880 yards and an NFL-record 28 touchdowns.

"I wanted to see the relationship with the running back and how everything fit - the coaches, Shaun, the team," Ruskell said. "I'd have to be blind to say that I couldn't see that's going to work pretty well."

After Seattle's Super Bowl loss to Pittsburgh, team owner Paul Allen, coach Mike Holmgren and Alexander himself all said they believed the franchise's career rushing leader with 7,817 yards over six seasons would remain with the Seahawks.

Steiner said Sunday night that negotiations began to make substantial progress immediately after team officials returned from the combine late last month.

Alexander was on the road, making appearances in Atlantic City, N.J., and Kansas City in recent days and was about to travel to Alabama when he got the call the deal was complete.

"They said it was time to come home and I knew what that meant," Alexander said.