Free agent running back Ladell Betts has signed a one-year contract with the New Orleans Saints, reports Jason La Canfora of the NFL Network.

According to La Canfora, Betts' contract is worth nearly $800,000.

After spending the first eight seasons of his NFL career with the Washington Redskins, who selected him in the second-round (56th overall) of the 2002 NFL Draft out of Iowa, Betts, 31, signed with the Saints in mid-August. In two pre-season games, Betts rushed for 53 yards on nine carries and caught 5 passes for 24 yards, but was released on September 3.

Betts is coming off a torn ACL, and has rushed for 3,176 yards and 13 touchdowns, with 165 receptions for 1,505 yards and 3 touchdowns as a receiver out of the backfield during his 103-game NFL career. Betts has also averaged 24.0 yards on 86 career kick returns.

Saints running back Reggie Bush is expected to miss around six weeks after fracturing his right fibula returning a punt during Monday night's 25-22 win over the San Francisco 49ers.

Update: The Saints have released running back DeShawn Wynn to make room for Betts. Wynn was active for both of the Saints' wins this season.