It did not take long for wide receiver Torrey Smith to find a new home.

Smith, whom the 49ers released on Monday, agreed to terms on Thursday morning with the Philadelphia Eagles on a three-year, $15 million contract. ESPN and the NFL Network reported the agreement, citing an unnamed source. Agent Drew Rosenhaus represents Smith.

The 49ers released Smith this week to avoid paying his scheduled $8 million salary for the upcoming season. It is believed the 49ers attempted to trade him but could not find a team willing to pick up the final three years and $24 million of his contract.

Smith was released after two unproductive seasons with the 49ers. He caught just 53 passes for 940 yards and seven touchdowns in 28 games with the 49ers. He had the two lowest-output seasons of his career after four years with the Baltimore Ravens.

Smith posted career-highs with 65 receptions for 1,128 yards for Baltimore in 2013. The following season he caught a career-best 11 touchdowns before hitting the free-agent market and signing with the 49ers.