The contract is believed to be 7-years, which has an opt-out clause in 4 years. It's been reported by the Daily News to be worth $46 million, with $32 million guaranteed. It's not the top-paid, Nnamdi Asomougha money Revis had been hoping and asking for, but the 4-year, $32 million (plus some when he achieves certain incentives) is a fine chunk of change and he can opt out and work out that record contract he wants.
Many have viewed the entire holdout and process as a stalemate, but Revis played the New York Jets like a peewee game. Revis will be making more than he was, and far more than enough to be comfortable with. He's also in prime position to earn most of the $46 million on the contract in just the 4 years he has locked into the contract. Knowing he truly isn't completely proven as the best corner in football (that belief is not being argued here, however), he will be able to continue to showcase it and make his case to earn that top-dollar contract in 2014.
Congratulations to Mr. Revis for the brilliant play on the ball, and congratulations to the Jets for locking up one of the best defensive players in the game.