"Overall I just decided it was the best option," Sheridan told the Manchester Evening News.
"I've enjoyed my time here and, though there was interest from a number of French clubs, including one definite offer, overall I just felt signing the extension was the right decision.
"As a family, me, my wife and our daughter are very settled here and professionally I've thoroughly enjoyed the seven years at Sale.
"Plus, I'm hoping to be involved in the World Cup later this year and if I was to join another club, changing halfway through the season would be difficult.
"So the decision was really based on a combination of factors. I had the extension option on my contract, I've enjoyed it this season and staying on just seemed the best thing to do."
Sheridan's decision to remain in the Aviva Premiership club followed the appointment of Steve Diamond as the club's new executive director of sport. Many linked the two developments together, but Sheridan has revealed it's a sheer coincidence.
"Ironically, Steve coming back here wasn't a key factor in my decision," added Sheridan. "I know Steve well but I don't think you can base decisions such as contracts on what the management is likely to be as you can't control issues like that.
"It was just a happy coincidence that signing the extension coincided with the news about Steve coming back.
"I do get on well with him and when I first came to Sale he was the coach along with Jim Mallinder but it was more thinking what was best from my own point of view, about the family and just weighing everything up.
"And, given how much I've enjoyed it here, it just felt the right thing to do was to stay. I weighed things up, obviously but I just wanted to make the decision and not have it lingering.
"I had to make it before the beginning of February as that's when the option to extend the deal ran out, so with that in mind, and weighing it all up, it just felt right.
"Having made the decision I can just get on and work hard for the rest of the season and look forward to next year as well."