The one-year deal is worth approximately $1.5 million with incentives that could reach as high as $6 million, NFL Network reported.
After nearly five years with the Arizona Cardinals, Floyd was released following a DUI arrest last year and the New England Patriots added him to their roster late in the season. He played in the final two games for New England, but had been an unrestricted free agent since March looking for work.
Floyd won a Super Bowl ring with the Patriots, although he was inactive for championship game.
The 6-foot-2, 220-pound receiver was a first-round pick of the Cardinals in 2012, 13th overall. In his six-year career, he has started 47 games, catching 246 passes for 3,781 yards and 24 touchdowns.
Floyd was released by the Cardinals in December after a DUI arrest and was sentenced in February to 120 days in jail, 24 of which was to be served in Maricopa County with the remaining 96 to be served under house arrest. According to ESPN, his first practice with the Vikings won’t come until training camp because he will have to remain in Arizona, per terms of his sentence, while the Vikings are going through organized team activities and minicamp over the next month-plus. The Vikings start OTAs on May 23.
By waiting until after May 9, the Vikings could sign Floyd without hurting their chances to get a compensatory pick in next year’s draft.