From Mike Reiss at ESPN Boston:
Olympic silver medalist Jeff Demps has agreed to terms with the Patriots, a league source confirms.
The 5-foot-7, 191-pound running back is an undrafted free agent from Florida. He played in 12 games last season, making five starts. On 98 carries, he had 569 yards and six touchdowns.
Demps did not take part in February's NFL Combine and did not have a spring workout for April's NFL Draft, instead training as a sprinter for the United States in the recent Olympics.
Once Demps officially arrives in New England, his biggest impact could be on the Patriots' return game. Demps could provide a spark in that area, where coach Bill Belichick said on Thursday the team is looking for better production.
The Patriots showed interest in Demps prior to the Olympics, which may have played a part in his agreement with New England. According to reports, the Buccaneers also showed interest in Demps this week.
UPDATE: It's official. Patriots issued a press release to announce the signing.