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New Orleans Saints wide receiver Willie Snead (83) runs after a catch in a NFL Minicamp at the Saints Training Facility in Metairie, La. Tuesday, June 13, 2017.

Advocate staff photo by MATTHEW HINTON

The Baltimore Ravens waited until the final moment, but the Ravens are making a run at Willie Snead, according to a report from NFL Network's Ian Rapoport

Snead, a restricted free agent New Orleans tendered at the lowest level, a right of first refusal, before the outset of free agency, has been working out with the Saints during their offseason program this week, but teams could make an offer to Snead until Friday. 

Baltimore got its offer sheet in under the wire, inking Snead to a two-year offer that Rapaport reported is worth $10.4 million, and ESPN's Adam Schefter later clarified as a two-year, $7 million deal that includes $2 million in signing bonus and a potential $3.4 million in incentives.

Shortly after the news broke of the offer sheet, Snead, who has talked openly about hoping for a new contract since last offseason, posted a message on his Twitter account.

New Orleans now has five days to match, and because Snead was tendered at the lowest level, the Saints will receive no compensation if they decide not to match. 

Whether or not the Saints will match is unclear. New Orleans signed Chicago's Cameron Meredith to a two-year, $9.6 million deal last week and brought back Brandon Coleman earlier this week, and according to NFLPA records, the Saints have $6.092 million in salary cap space as of Friday morning, with Meredith's contract still pending. 

Snead, an undrafted free agent who rose up the depth chart to make the team during training camp in 2015, caught 141 passes for 1,879 yards and seven touchdowns over his first two seasons with the Saints, but he's coming off of a season where he lost his place in the New Orleans offense.

Suspended for three games after a June 2017 arrest for drunk driving, Snead was injured when he was eligible to play again and never regained his place in the offense, catching just eight passes for 92 yards while playing 259 snaps. 

After his arrest, Snead enrolled in a substance abuse counseling program offered to first-time offenders accused of drunk driving to avoid prosecution. He successfully completed the six-month program, which is reputed to be rigorous. 

Staff reporter Ramon Antonio Vargas contributed to this report. 

Follow Joel A. Erickson on Twitter, @JoelAErickson.