The New England Patriots added an dynamic offensive player on the cheap Saturday. The Pats signed wide receiver Brandon Lloyd to a three-year deal worth $12 million on Saturday. Lloyd caught 70 passes last year while playing for the Denver Broncos and St. Louis Rams. He racked up 966 yards and five touchdowns. He is one season removed from leading the league in receiving yards and is now reunited with Patriots offensive coordinator Josh McDaniels, who was the head coach for the majority of Lloyd's time in Denver.

Fantasy Analysis:

What a great addition for the Patriots. Well, first of all, this is not good for Deion Branch and pretty much shuts the door on Chad Ochocinco's one awful year in New England. But this is a coup for Tom Brady, who now has the field-stretching receiver that he missed so badly last season. Lloyd turns 31 in July and is still very productive. And while wide receivers have been getting fat contracts during this free agency period, this is an amazing bargin. The Chargers gave Eddie Royal more money for three years yesterday. I think Lloyd can be a very solid WR2 in what should be a pass-happy McDaniels-led offense.