Shead started 15 games for the Seattle Seahawks opposite Richard Sherman last season and played at a high level, but he suffered a torn ACL and meniscus in his left knee in the divisional round of the playoffs.
Shead was originally a restricted free agent, but the team did not tender him, making him an unrestricted free agent. The Seahawks have expressed interest in bringing Shead back at a lower price than he would have received from the tenders.
Seahawks general manager John Schneider said at the combine that Shead would have a hard time being ready for the start of the 2017 season, but coach Pete Carroll said Shead had a chance to return for Week 1.
"DeShawn is a great kid. He's got really strong faith," Schneider told reporters. "You'd want him to be your son, you know what I mean? His mindset is like, 'Hey, I'm going.' I say he's probably not going to be there right away; that's just me. He's probably got a different mindset. He's crushing his rehab right now."
Shead, 28, began his career on the Seahawks' practice squad before working his way into a starting-cornerback role in 2015. He also served as Seattle's special-teams captain last season and previously showed the versatility to play safety and nickel.
The Seahawks have a hole at right cornerback they will likely need to fill through the draft. If the season started today, Jeremy Lane, Perrish Cox and Neiko Thorpe would be among the options competing for the right-cornerback job.