Two-time Pro Bowl wide receiver Emmanuel Sanders is signing a two-year deal with the Saints, according to ESPN's Josina Anderson.
According to ESPN's Adam Schefter, the agreement is for $16 million and can be up to $19 million. He spoke with the Cowboys and the Packers as well, but preferred to wind up with the Saints, per Schefter.
Sanders, 32, was traded to the 49ers in the middle of last season. The SMU product was highly productive with the 49ers, recording 36 catches for 502 yards and three receiving touchdowns. He also threw a 35-yard touchdown against New Orleans, of all teams, in one of the best games of the regular season.
Prior to joining the 49ers, Sanders spent five full seasons with the Broncos and four years with the Steelers. Three times throughout his 10-year career, he has finished the season with more than 1,000 receiving yards.
Pittsburgh drafted Sanders in the third round of the 2010 NFL draft.
He'll join a high-octane offense with the Saints that was among the league's best last season. New Orleans ranked seventh in total passing yards and second in passing touchdowns.
Ted Ginn Jr., the team's No. 2 receiver last year, however, is a free agent.
Sanders will spend the majority of his time on the field alongside Pro Bowl wide receiver Michael Thomas, Pro Bowl running back Alvin Kamara and a host of other weapons.
The Saints are looking to reach their first Super Bowl since the 2009 season after suffering playoff losses in each of the past three years.