Source: Receiver-needy Indianapolis Colts to sign Hank Baskett

The Indianapolis Colts will sign former Philadelphia Eagles receiver Hank Baskett on Thursday, a league source told ESPN NFL Insider Adam Schefter.

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The Colts have been in the market for a receiver since losing Anthony Gonzalez to a knee injury.

After releasing Marvin Harrison in a cost-cutting move in February, the Colts expected two former first-round picks, receivers Reggie Wayne and Gonzalez to step up.

But Gonzalez sprained ligaments in his right knee Sunday and is expected to miss several weeks. The Indianapolis Star, citing a source, reported Thursday that Gonzalez won't require surgery and hopes to return after the Colts' Oct. 18 bye -- meaning he will miss four games.

Baskett was one of seven receivers the Eagles carried on their 53-man roster through Week 1. He became expendable after Philadelphia selected Jeremy Maclin in the first round of April's draft and added Brandon Gibson in the sixth round.

Baskett had 72 catches for 1,052 yards and six touchdowns in 48 games with the Eagles.

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