Update: Davis signed a five-year deal Friday morning worth in excess of $23 million and possibility close to around $25 million. His deal tops those of Giants tight end Jeremy Shockey, Tony Gonzalez, Raven Todd Heap, Jason Witten and Alge Crumpler. They make between $4.14 million and $4.5 million a year. [ESPN]
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49ers.com is reporting that 1st round pick Vernon Davis has signed and will be participating in the teams first practice today.

Look for the deal to be around the price Michael Huff received with the Raiders. Five-year deall reported to be worth $22.5 to $26.5 million dollars, including $15 million in guarantees.