The New Orleans Saints have signed restricted free-agent receiver Cameron Meredith to a two-year offer sheet, a source told ESPN's Adam Schefter.
NFL Network's Ian Rapoport adds the deal is worth $9.6 million plus incentives, with $5.4 million guaranteed.
Meredith has spent the first three years of his career with the Chicago Bears, who assigned an original round tender to the wideout last month. The Bears will have five days to decide whether they will match the Saints' offer.
The receiver is the second Bear to garner interest from another team this offseason as a restricted free agent. The Green Bay Packers signed cornerback Kyle Fuller to an offer sheet in March, only for Chicago to match and re-sign their young defensive back the same day.
Meredith enjoyed a breakout year with a team-high 888 yards in 2016 before tearing his ACL during the Bears' third preseason game last season. Saints receivers coach Curtis Johnson previously coached Meredith during his time in Chicago.
