The Baltimore Ravens have reportedly have signed New Orleans Saints wide receiver Willie Snead to a two-year offer sheet worth seven million dollars. ESPN's Adam Schefter reports that deal is a little more loaded than some previously thought:

Now what does "offer sheet" and "RFA" mean? They're both tied together. Snead is a "restricted free agent", which means he can look for a new deal with a new team, but the New Orleans Saints will be able to match whatever is offered to him. Hence the "offer sheet" and not "contract". So the Saints aren't completely out on Snead yet, but Schefter also Tweeted that the Saints aren't likely to match this deal.

The Saints seem pretty high on Meredith, so they might not view bringing Snead back as a priority. In fact, some think the team are excited about Snead being signed away. But we won't know for sure until the clock runs out on their window to match the offer sheet.