Watters Signs With Eagles

Ricky Watters, the versatile running back who helped lead San Francisco to its fifth Super Bowl victory, signed an offer sheet to play for the Philadelphia Eagles.

The 49ers have seven days to match the offer, a front-loaded three-year deal worth a guaranteed $3.6 million in the first year, said Watters’ agent, Blaine Pollock.

Watters, who earned $875,000 in base salary in 1994, was third in the NFC with 1,596 total yards last year, ranking behind franchise players Barry Sanders of Detroit and Emmitt Smith of Dallas.

If San Francisco does not match Philadelphia’s offer, Watters would be the fourth running back to leave the Bay Area since the Super Bowl.

Pro Bowl cornerback cornerback Eric Allen has signed a five-year, $14 million offer sheet, and could wind up the second-highest-paid member of the New Orleans Saints. Allen has made it clear he wants to leave Philadelphia.

Saints executive vice president Jim Miller acknowledged late Friday that the club had received Allen’s signed offer sheet. The offer sheet probably will not be sent to Philadelphia until Monday at the earliest, he said.