Although the Saints didn't make a qualifying offer to Morgan last week when he was due to become a restricted free agent, it makes a lot of sense for them to bring him back (likely at a lower rate than the minimum RFA tender of $1.4 million).
If Morgan, 25, proves he can fully recover from the torn ACL that sidelined him all of last season, he'll have a shot to compete for the No. 3 or No. 4 receiver job in New Orleans.
Morgan appeared poised to win that job last year before suffering the knee injury late in the summer. And he offers the dynamic speed element that the Saints were missing last year in his absence.
In a limited role in 2012, Morgan caught 10 passes for 379 yards and three touchdowns (an astounding 37.9-yard average).
For now, the Saints' backup receiver spots are still wide open behind returning starters Marques Colston and Kenny Stills. Nick Toon is the only other receiver on the roster with NFL experience. The Saints will likely keep adding to the competition, however.
They have shown interest in veteran free agent Sidney Rice. They could potentially bring back free agent Robert Meachem. And this year's draft class is considered to be loaded with talented receivers.
Morgan also visited with the Kansas City Chiefs last year before ultimately re-signing in New Orleans.
Meanwhile, Morgan also appeared in the news on Tuesday for a non-football story. Morgan agreed to try to complete a diversion program to avoid prosecution on a DWI charge from last summer.