"Between my agent and Ted (Thompson) there has been ongoing conversation, but I have not seen or signed or done anything with a contract," Sherman told reporters after practice.
"As has been the case in the past, I'll let people take care of that and when it happens, you guys will be the first to know. But nothing has happened. Obviously there is conversation, but I'll let you guys know."
Sherman is in the final season of a five-year extension he signed in 2001 when he was named general manager in addition to his duties as head coach. Sherman was relieved of his duties as general manager in January and replaced by Thompson.