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Austin Pettis was a 3rd round pick for the St. Louis Rams in 2011 and has spent all 4 seasons as a member of the Rams. He was released mid season by the Rams as he was still unable to find consistent playing time. He is a big WR at 6'3", 210 lbs, and is more quick than he is fast. At the NFL Combine, Pettis ran the 40-yard dash in 4.61 seconds.
Pettis has 107 career receptions for 1,034 yards and 9 touchdowns, but he has never had 400 receiving yards or 5 touchdowns in any season.. He also has some experience as a returner.
Pettis will provide competition and a little depth, as Seyi Ajirotutu and Eddie Royal are both impending free agents.
No contract details have been released at this point, but it's important to remember that Pettis being signed does not guarantee that he will make the team next season.