BREAKING: Mike Wallace Signs One-Year Deal With Eagles

The Philadelphia Eagles have signed wide receiver Mike Wallace, according to Peter Schrager of the NFL Network.

The deal is for $2.5 million, according to multiple reports.

Philly lost the deep threat in their passing game when they cut Torrey Smith, who went on to sign with the Carolina Panthers. Wallace, who was one of the best deep threats in the league earlier in his career, is essentially a replacement for Smith.

He's expected to start alongside No. 1 wideout Alshon Jeffery and slot receiver Nelson Agholor.

Wallace caught 52 passes for 748 yards and four touchdowns for the Baltimore Ravens last season.

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