I really believe the Pats will pay within 10% of the top offer out there when all is said and done. Just how the deal will be structured is strictly supposition. Miguel has given us several reasonable prototypes. But here is what I feel pretty strongly will happen. Forget about the initial announcement, regardless of how this deal is reported, the reality is it will be a 3 year deal. Anything longer was just a device to spread the initial money out longer. I don't see ANYONE willing to pay elite money a 34 or 35 year old CB. I don't doubt in 3 years Revis is still going to be a top 10-15 CB, but its very unlikely he will be one worth 14-16MM/yr
So I would gladly give Revis a 5 year deal that pays him top money or within 10% of top money for 3 years and about half that (which will still be a LOT of money) to use that glorious mind as a S to close out his career. I think having those 5 years will allow the Pats to be competitive in the up front money, and create the maneuvering room to create a deal the makes sense both in the long and short run
Then, he can retire as a Patriot and go into the HOF as a PATRIOT. (with multiple superbowl rings. )