The Facts: Snead, a restricted free agent, is signing a two-year offer sheet worth up to $10.4 million with the Baltimore Ravens today, a source tells ESPN's Adam Schefter.

Diehards Line: The Saints will have five days to match it. It's not clear if they'll be all that interested. Remember, Snead was tendered at the lowest level earlier this offseason. He was suspended for three games to open last season and ended the year with just eight catches for 92 yards in 11 games. The Saints have added Cameron Meredith to a receiving corps that also includes Michael Thomas and Ted Ginn. The Ravens, meanwhile, are in the midst of a major overhaul at the position with recent signees Michael Crabtree and John Brown currently at the top of their depth chart. ... We'll be following up when the final decision is announced.