Per Schefter, Peterson has signed a five-year, $40 million contract, with $17 million in guaranteed money.
Peterson is the latest player drafted in the top 16 picks to sign a deal for less than the maximum term of six years.
The annual average of $8 million is actually greater than the average value of LaDanian Tomlinson's contract, who signed nearly three years ago an eight-year, $60 million deal.
It's going to be an interesting rookie season for Peterson because I don't think the Vikings have much in the way of a quarterback so yards may be tough to come by. Fortunately for him dollars came pretty easy in the Twin Cities.