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Breaking down Corey Graham's contract

Just how much did the Buffalo Bills want cornerback Corey Graham?

So much that when Graham was in a film session with Washington Redskins coaches Wednesday, the Buffalo native's agent placed an urgent call to Graham telling him about the Bills' contract offer.

Well, that contract has been filed with the NFLPA. The details are below.

Graham will be paid an average of $4.075 million per season, which is currently 22nd among NFL cornerbacks, although that number could fluctuate as free agency progresses. Graham will be paid $8.1 million in guaranteed money, which ranks 24th among NFL cornerbacks.

Graham's APY is still less than Leodis McKelvin, who receives an average of $4.25 million per season after signing a four-year deal last spring. McKelvin and Graham could compete for a starting spot alongside Stephon Gilmore this season. The loser might be a backup.

If so, would Graham or McKelvin be overpaid? What's your take?