OWINGS MILLS, Md. -- The Baltimore Ravens signed New Orleans Saints wide receiver Willie Snead to a two-year offer sheet, a source told ESPN's Adam Schefter.

The offer is worth $7 million with $3.4 million in incentives and includes a $2 million signing bonus, according to a source.

The Saints have five days to match the offer sheet to Snead, who is a restricted free agent. New Orleans, which signed restricted free agent Cameron Meredith this offseason, could choose to decline the offer sheet.

It seems unlikely that the Saints will match the offer because Snead's role diminished so much last year and they re-signed veteran backup receiver Brandon Coleman earlier this week. But Snead's potential is high in New Orleans' offense, so matching the offer can't be ruled out.

Snead received the low tender of one year for $1.9 million after originally being an undrafted rookie, which means the Ravens wouldn't have to give any compensation to the Saints.

Friday is the final day that teams can sign restricted free agents to an offer sheet.

The Ravens have been looking for a slot receiver to pair with free-agent additions Michael Crabtree and John Brown. Baltimore brought in Snead for a visit at the end of March, and he caught passes from Robert Griffin III.

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AP Photo/Jeff Robersonnull

The Saints emerged with an NFC South title last season and have a schedule worthy of a division champion -- especially after the Week 6 bye.
Chuck Cook/USA TODAY SportsThe Saints' division title last season was their first since 2011.

With a schedule backloaded with tough opponents, the Saints cannot afford the slow starts that have plagued them in recent seasons.
Kevin C. Cox/Getty ImagesSaints receiver Brandon Coleman caught 23 passes for 364 yards and three touchdowns last season.

New Orleans has decided to bring back receiver Brandon Coleman, after initially opting not to make an offer. But he's no lock to make the roster.
Fred Kfoury III/Icon SportswireHarold Landry is not the prototypical edge rusher the Saints seek out but could have solid value at No. 27.

Edge rusher is once again a "must" for the Saints, it's just a matter of whether one that they like falls to them.
Matthew Visinsky/Icon SportswireSam Darnold can make every NFL throw and should be an intriguing fantasy rookie.

Sean Payton isn't too confident about the top quarterback prospects in this draft, but he did speak highly about Sam Darnold.
Jim Dedmon/Icon SportswireHayden Hurst's versatility would be a good fit in Sean Payton's offense.

While the Saints have no pressing needs on offense, an elite tight end like Hayden Hurst would be a good option for their top pick of the draft.

During Lamar Jackson's three-year run at Louisville, the quarterback threw for more than 9,000 yards with 67 touchdown passes and racked up a whopping 4,132 rushing yards with 50 more scores. Those are ridiculous numbers for the 2016 Heisman Trophy winner and a reflection of the electric impact he had on the college game.

But how will Jackson's skill set translate to the NFL? When I turn on the tape, I see a dynamic player with the ball in his hands. I see a player who reminds me of when I played against an in-his-prime Michael Vick. I see a quarterback with ultra-rare athleticism. I also see a guy who needs time to tighten up his throwing mechanics to become a more consistent passer. Jackson improved every year at Louisville, but he never completed more than 60 percent of his passes in a season.

I would want to coach him up, though. Because Jackson has the traits to develop with the proper coaching, system and an established talent base with which to work.

Let's run through Jackson's best fits in the 2018 draft. I'm looking for teams that could put Jackson on the right developmental path. These are all realistic, as Jackson is rated as the fifth-best quarterback in this class by ESPN's Mel Kiper Jr. and Todd McShay, and a likely first-round pick:

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Photo by Chuck Cook/USA TODAY SportsDrew Brees threw his first two interceptions of the season in the Saints' 52-38 win over the Lions.

The projected value of the option on Andrus Peat is $9.6 million, according to ESPNā
AP Photo/Jonathan BachmanAs the new owner of the Saints and Pelicans following the death of her husband Tom, Gayle Benson said she will not sell the teams and is "very happy to continue his legacy."

Gayle Benson committed to run the Saints with the "same drive and focus towards success that my husband displayed throughout his life."

NEW ORLEANS -- Federal lawmakers from Louisiana and Washington have submitted legislation to award former New Orleans Saints and Washington State football player Steve Gleason the Congressional Gold Medal, the highest civilian honor awarded by Congress.

Sen. Bill Cassidy, a Louisiana Republican and doctor who helped sponsor the legislation, seeks to honor Gleason for his work as an advocate for people with amyotrophic lateral sclerosis, or ALS, also known as Lou Gehrig's disease.

"Steve Gleason was a hero for Saints fans and now he is a hero for all Americans as he finds hope and meaning in overcoming disability and creating greater opportunity for others who are disabled," Cassidy said.

The 41-year-old Gleason, famous for blocking a punt in 2006 on the night the Superdome reopened for the first time since Hurricane Katrina, was diagnosed with ALS in 2011. He has spearheaded efforts through the Team Gleason foundation to develop and provide technology to help ALS patients live longer, more fulfilling lives. Those include devices that track eye movements to help people who are paralyzed type words that can be transformed into speech. Gleason has used the technology to communicate, post messages on social media, address lawmakers from around the world and give motivational speeches to athletes.

Congress this year approved the Gleason Act, which provided funding to help ALS patients get those devices.

The legislation submitted Thursday also is sponsored by Sens. Patty Murray and Maria Cantwell, D-Wash.; Sen. John Kennedy, R-La.; Rep. Cathy McMorris Rodgers, R-Wash.; Rep. Steve Scalise, R-La.; and Rep. Cedric Richmond, D-La.

Murray praised Gleason for making "his biggest impact as a tireless advocate in the health world" and changing "countless lives for the better."

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Andy Lyons/Getty ImagesCameron Meredith, who missed all of 2017 due to injury, has the talent and versatility to click in the Saints' offense.

Cameron Meredith is coming off a major knee injury, but his versatility could make him a great fit in the Saints' offense if he's healthy.

The Chicago Bears declined to match the New Orleans Saints' two-year, $10 million offer sheet to restricted free-agent wide receiver Cameron Meredith on Wednesday.

Meredith confirmed the news during an appearance on ESPN 1000's Waddle and Silvy Show.

Bears general manager Ryan Pace and coach Matt Nagy met with Meredith to inform him of the decision.

"It was just the right move for the Bears as a whole and as a team. As for me, as a player, we just felt this was the best way to go," Meredith said.

"I think in the grand scheme of things, I don't really know the specific details why they did it, or why they didn't. I can just control what I can control and do going forward."

A source told ESPN's Adam Schefter that the Bears' call was mainly a medical decision as Meredith is coming off a torn ACL and MCL, and the team was hesitant to commit that much money to a player coming off such a serious knee injury.

Meredith said his injury rehabilitation has "been a big part of my offseason, making sure my knee and my recovery is right so I'm able to come back 100 percent."

He added: "With that being said, I haven't had any setbacks or anything like that. So I don't think anyone had that as a major concern."

Meredith gives the Saints another big target to pair with 6-foot-3, 212-pound Pro Bowl wideout Michael Thomas and veteran speedster Ted Ginn Jr. Meredith will likely compete with Ginn and Willie Snead for prominent roles in New Orleans' receiving corps.

The Bears had issued an original-round tender to Meredith, valued at $1.9 million, so the Bears receive no draft pick compensation from the Saints because Meredith was an undrafted free agent.

After going undrafted in 2015, Meredith signed with the Bears as a free agent out of Illinois State and appeared in 11 games as a rookie, catching 11 passes for 120 yards.

Meredith, 25, had a breakout season in 2016 with 66 receptions for 888 yards and four touchdowns, but suffered the knee injury in a preseason game last summer at Tennessee. He expressed confidence in January that he'll be ready by the beginning of training camp.

Joining the Saints reunites Meredith with wide receivers coach Curtis Johnson, who previously served in the same role for the Bears.

The Bears were aggressive in addressing the wide receiver position in free agency this winter, spending heavily to land Allen Robinson

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NFL free agency reached peak frenzy before the signing period officially opened as teams embraced the confusingly named "legal tampering" period.

Despite all the excitement, most rosters are a little worse off now than they were before. That's because many depth players remain unsigned, while many of the signings featured desperate teams overpaying to fill needs.

With assists from general managers and others around the league, I've put together a ranking of the 10 best value signings and the 10 worst overpays.

Worst overpays

1. Sammy Watkins, Kansas City Chiefs

Deal: Three years, $48 million

The good news is that Watkins is young, talented and joining a team coached by Andy Reid, who excels at maximizing personnel. The bad news is that Watkins simply has not been very productive, a leading reason he is on his third team in eight months.

The Chiefs are paying Watkins as though he's a sure bet. They were not the only team willing to spend big for him. Dallas was also interested, as was Chicago. It seems like a case of teams valuing a player based more on their draft reports than what the player has done since college.

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