BETHLEHEM, Pa. -- The Philadelphia Eagles' free-agency bonanza continued Wednesday when they agreed to a one-year deal with former New York Giants receiver Steve Smith.

Smith played for the Giants from 2007 to 2010, totaling 220 receptions for 2,386 yards and 11 touchdowns. Smith made the Pro Bowl in 2009, when he posted a franchise-record 107 receptions for 1,220 yards and seven touchdowns.

Last season, he was limited to nine games due to injuries and finished with 48 receptions for 529 yards and three touchdowns.

Smith sustained a season-ending left knee injury Dec. 13 in the Giants' win over the Vikings at Ford Field in Detroit, and had microfracture surgery eight days later.

Smith visited with the Giants Monday and Tuesday, including an examination of his knee. Giants coach Tom Coughlin said Smith still had "a ways to go" before being healthy enough to play again.

"I would disagree with that," Smith said. "I feel good. I've been running, cutting, doing different things. I haven't had any setbacks."

Smith said he was examined by doctors from both the Giants and Eagles and said both gave him a positive report.

Asked why Coughlin might have indicated that Smith faced a longer rehab than Smith's doctors expressed, Smith said, "Maybe Coughlin had a plan up his sleeve when he said that. We'll see what happens when I get out on the field."

Smith said he believes the real reason the Giants didn't want him was financial.

"Yeah, shoot," he said.

Smith said he couldn't speculate when he'll be able to return to practice.

"I'm not sure," he said. "If it was up to me, I would say I could go practice tomorrow, but I want to be extra careful and don't want to rush it and have any setbacks. Hopefully, I'll be able to get out there really soon."

Sources with knowledge of Smith's medical review by the Giants and Eagles told ESPN NFL senior analyst Chris Mortensen that doctors realistically believe the wide receiver could return by mid-October if he suffers no setbacks in his rehabilitation.