Chris Hogan signs three-year deal with Patriots

Hogan could be headed to New England (0:38)

Adam Schefter discusses WR Chris Hogan signing an offer sheet worth $12 million with the Patriots and if the Bills have enough cap space to keep Hogan. (0:38)

The New England Patriots signed restricted free agent wide receiver Chris Hogan on Friday, the team announced.

While the team didn't announce terms of the contract, league sources told ESPN NFL Insider Adam Schefter that it is a three-year deal for $12 million and includes a first-year salary-cap charge of $5.5 million.

The Buffalo Bills, who opened free agency with just $4.5 million in cap space, declined to match the offer, sources told ESPN. Because Hogan received a low tender offer as a restricted free agent ($1.6 million) and entered the NFL as an undrafted player, the Bills will not receive compensation.

The Patriots increased their pursuit of Hogan after missing out on higher-priced options in free agency, as former Cincinnati Bengals receivers Marvin Jones (Detroit Lions) and Mohamed Sanu (Atlanta Falcons) chose to sign elsewhere.

The 27-year-old Hogan, who broke into the NFL with the San Francisco 49ers as an undrafted free agent out of Monmouth in 2011, has spent the past four seasons with the Bills. He first showed up on the national radar with the Miami Dolphins in 2012, when, during HBO's "Hard Knocks" program, coaches nicknamed him "7-11" because -- like the convenience store -- he always seemed to be open.

The 6-foot-1, 220-pound Hogan emerged the past two seasons in Buffalo as a No. 3 option on the depth chart, totaling 77 receptions. He aligns inside and outside, which is flexibility the Patriots generally covet, and has shown the ability to separate from defenders.

Hogan will join a Patriots depth chart headlined by Julian Edelman and Danny Amendola. The Patriots released one of their starting receivers, Brandon LaFell, earlier in free agency.