According to ESPN's Adam Schefter, free agent wide receiver Malcom Floyd has signed a two-year contract with the San Diego Chargers.
No word yet on the financial terms of the deal.
Floyd, who was thought to be close to a deal with the Ravens, will remain in San Diego where he has spent his entire career spanning seven years. As recently as an hour ago, Baltimore was thought to be close to signing Floyd, whose impressive size and past history with offensive coordinator Cam Cameron was an enticing package for the Ravens, particularly in the red zone.
As it turns out, Floyd will remain nearly 3,000 miles away in sunny San Diego.
In six seasons with the Chargers, Floyd has tallied 134 receptions for 2,314 yards and 15 touchdowns. He is coming off of arguably his best season, however, during which he hauled in 37 balls for 717 yards and a career-high six touchdowns in 2010.
With Floyd off the market, the spotlight turns even brighter on Derrick Mason, who was cut by the Ravens just two weeks ago. With the free agent market becoming more barren by the day, it's clear the Ravens need to make a move for a receiver to help Joe Flacco. Currently, Baltimore's receiving corps consists of Anquan Boldin and a slew of younger guys, highlighted by rookie Torrey Smith.