It is believed that Ferguson received a signing bonus of around $1.3 million as part of a four-year contract. Pittsburgh's Kendrell Bell, taken two spots in front of Ferguson recently signed a four-year deal that reportedly averages $751,000 a year.
The Packers are expected to announce the signing of running back Ahman Green to a multi-year contract within the next couple of days as well. Green told various news outlets that he plans to sign an extension by the end of the week.
Ferguson is the fourth of the Packers' six selections in the 2001 draft to be signed, joining Penn State cornerback Bhawoh Jue (third round), offensive guard Bill Ferrario of Wisconsin (fourth round) and tight end David Martin of Tennessee (sixth round). Remaining to be signed: defensive end Jamal Reynolds of Florida State (first round) and linebacker Torrance Marshall of Oklahoma (third round).
In other news, the Packers waived linebacker Eugene McCaslin, a former 2000 seventh-round draft pick who spent most of last season on the club's practice squad before being activated and seeing action on the special teams in the season finale vs. Tampa Bay; placekicker Brett Sterba, a rookie free agent from William & Mary; and cornerback Andre' Dixon, a first-year player from Northeastern.