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As NFL Network's Ian Rapoport first reported, Arian Foster is signing with the Dolphins -- a development that will be of great interest to fantasy football owners.

The contract is good for one year and $1.5 million. It includes incentives that could bring max value of deal to $3.5 million.

Foster, who was slated to work out for the team today (he also worked out for them back in March), will provide the team some depth in a backfield led by Jay Ajayi. Since that first workout, the Dolphins invested a third-round pick in former RB Kenyan Drake.

Remember, Miami had been trying to add a veteran presence and more competition at the position throughout the offseason. As Profootballtalk.com's Josh Alper reminded readers, the team met with and/or offered contracts to several free agent backs early in the offseason -- including a serious offer to then-restricted free agent C.J. Anderson, but never landed anyone that they could use to supplant or to serve as a complement to Ajayi.

That left a spot open for Foster, who has been rehabbing the torn Achilles that ended his 2015 season with the Texans.

Foster should be a close to full strength. "I probably need another month to get where I am, the person everyone is used to seeing," Foster said in May. "I can definitely play, but I need another month to be where I want to be and be at that Pro Bowl level I can be at."

Two years ago, Foster was pretty good, with 1,246 yards rushing and an average of 4.8 yards per carry. From 2011 through 2013, Foster had three straight 1,000-yard seasons, with a total of 4,264 rushing yards. In fact, Foster is quite confident he can make a similar contribution on the field -- for team's that can deal with him off it.

“I am not one of those Captain America, ‘Yes sir, no sir,’ kind of cats, and a lot of that comes across as arrogance. But if anyone has spent any real time with me, they’ll say I’m not arrogant,” Foster said.

Of course, the question now is obvious: How much will Foster contribute?

In addition to his well-documented rushing production, Foster's pass-catching ability is notable, which could appeal to a team looking for a change-of-pace. Whatever the case, look for Ajayi's price tag to drop noticeably, making the second-year back an even better value than he was. It will be on him to fend off whatever challenge Foster, who turns 30 in August, can mount.

It's a situation we'll all be watching closely once the Dolphins hit the field for training camp on July 28.