http://msn.foxsports.com/nfl/story/5351986 The free-agency period has yet to begin but one potential free agent has already hit for a big payday. FOXSports.com has learned that the Colts agreed to terms Wednesday with wide receiver Reggie Wayne on a six-year deal worth nearly $40 million including $13.5 million in bonus money. Wayne was slated to become an unrestricted free agent and his signing now weakens an already extremely weak receiver free agent class. While the contract terms have been agreed upon by both sides Wayne has not yet officially signed and should as soon as the NFL approves the deal. The deal also makes him the third highest-paid receiver in the NFL behind teammate Marvin Harrison and Randy Moss. By getting the Wayne deal done the Colts do not have to use the franchise tag on him, a move they were primed to make had they not worked out a new contract. It's unclear whether they will use the tag on free agent running back Edgerrin James, but right now that appears to be unlikely. Wayne had 83 catches this past season for 1,055 yards and five touchdowns in the Colts' high-powered attack. -------- My input Does anyone else think that the Colts way overpaid for Wayne? He is the third highest paid WR in the league but he has only had one season Ã¢â‚¬â€œ2004 Ã¢â‚¬â€œ where he placed in the top 10 in receiving yards (9th) and TDs (4th). He has never had a year where he cracked the top 10 in receptions. Here are the numbers for 2 WRs that were drafted in 2001. G Rushes Yards Y/A TD | Rec Yards Y/R TD R. Wayne 77 1 -4 -4.0 0 | 304 4164 13.7 28 ??? 78 32 265 8.3 0 | 315 4596 14.6 39 Looks like the mystery WR is actually a better player than Wayne. The second WR is Chris Chambers of the Dolphins. Anyone want to pay him Reggie Wayne money? DidnÃ¢â‚¬â„¢t think so. The Colts screwed up big time.