FOXBORO (CBS) – The Patriots have reached agreement with free agent wide receiver Brandon Lloyd.

According to the NFL Network’s Jason La Canfora, the deal is for three years and $12 million.

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Lloyd enjoyed his best season with Josh McDaniels and the Broncos in 2010 (77 catches, 1,448 yards, 11 TDs), and with McDaniels now the offensive coordinator in New England, the Patriots were a good fit.

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The 49ers also offered Lloyd a deal, but the wide receiver chose instead to go where he would likely be comfortable.

The 30-year-old Lloyd spent last season with the Broncos and Rams, finishing with 70 catches for 966 yards and 5 touchdowns.

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On Saturday, the team also signed wide receiver Anthony Gonzalez.