The Chicago Bears declined to match the New Orleans Saints' two-year, $10 million offer sheet to restricted free agent wide receiver Cameron Meredith on Wednesday, a source told ESPN's Adam Schefter.
Bears general manager Ryan Pace and coach Matt Nagy met with Meredith to inform him of decision.
The Bears had issued an original-round tender to Meredith, valued at $1.9 million, so the Bears receive no draft pick compensation from the Saints because Meredith was an undrafted free agent.
Meredith, 25, had a breakout season in 2016 with 66 receptions for 888 yards four touchdowns, but suffered a devastating knee injury in a preseason game last summer at Tennessee.