UPDATED: WR Davis to sign 1-year contract this afternoon

Rashied Davis will sign the one-year tender offer the Bears made him this afternoon.

Agent Wynn Silberman confirmed the wide receiver will return to the team this season. Davis had been shopping himself as a restricted free agent. The deadline for RFAs to sign offer sheets is tonight at 11, and Davis doesnt have anything brewing so he will put his signature to a contract that will pay him $927,000 in 2008.

The slot receiver emerged as a valuable member of the offense in 2006, winning the game at Minnesota with a touchdown catch, and making a critical third-down reception in the overtime victory over Seattle in the playoffs. But he struggled to get involved last season as the offense broke down. Davis made only 17 catches for 165 yards, although he did establish himself more on special teams.

Kansas City was one of the teams that expressed interest in him, but it came down to the fact that it was going to be difficult for another club to put together a reasonable offer for him that the Bears would not match.

That was the pivotal issue for us, Silberman said. Teams did not feel comfortable moving forward on terms we were considering because they felt like the Bears would pretty much match the contract. That was the deterrent. Were excited Rashied is coming back to the Bears and are looking forward to free agency next year. At the same time, we havent ruled out the possibility Chicago will extend him. He really likes playing there.

With Davis returning, the Bears will be down to roughly $15 million in available cap room.

Only four RFAs have changed teams this offseason. Its a difficult way to acquire players, although it is how the Bears brought in cornerback Ricky Manning Jr. in 2006.

UPDATED: 4:16 P.M. Davis has officially signed his one-year contract at Halas Hall.