Sherman reportedly met with the Seahawks on Wednesday and the team is now considering trade options.
Wednesday, rumors began swirling surrounding Sherman's future with the Seattle Seahawks after some of his teammates sent out cryptic messages on social media that indicated the defensive back will not be returning in 2018.
Last season, Sherman played in just nine games before tearing his Achilles.
Safety Kam Chancellor and cornerback Jeremy Lane's posts on Twitter suggested Sherman won't be coming back.
"Chancellor of Operations" Thanks for the name @rsherman25", he wrote.More news: ISIS releases video footage of Niger ambush that killed 4 U.S. soldiers
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Seattle will save $11 million against the cap if it releases Sherman this offseason.
Sherman was scheduled to meet with Pete Carroll and John Schneider this week.
Richard Sherman reacts for the Seattle Seahawks after he intercepted a pass against the San Francisco 49ers at Qwest Field on December 23, 2012 in Seattle, Washington.
The Seahawks have undergone significant personnel re-shuffling after finishing 9-7 and missing the playoffs for the first time since 2011.
The cornerback announced last month he would forgo an agent and represent himself heading in to the final year of his contract.
Sherman also suffered the first significant injury of his career last season, tearing his right Achilles against Arizona on November 9 and ending his season, snapping a streak of 99 consecutive starts.