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NFL Network’s Adam Schefter reports the Bengals have signed Laveranues Coles to a four-year contract. The move comes just two days after the team lost T.J. Houshmandzadeh to Seattle.

Coles’ fantasy value should rise slightly in an offense that fields strong-armed quarterback Carson Palmer and the talented Chad Johnson on the other side. But owners still shouldn’t expect enormous numbers.

In fact, Coles has finished with just one 1,000-yard season since 2004. A viable No. 3 fantasy wideout in larger leagues, the veteran will be worth a middle- to late-round selection.

Palmer’s value should also see an upward bump with the addition of Coles, who is a nice upgrade in the pass attack over Chris Henry and Andre Caldwell.

With Coles now out of the mix in New York, Jerricho Cotchery becomes the top wideout for new coach Rex Ryan. But with an inexperienced quarterback (Kellen Clemens or Brett Ratliff) under center, Cotchery won’t see a huge spike in draft value.

The Jets could take a wide receiver in the first or second round of the NFL Draft, but for now it looks like Brad Smith, Chansi Stuckey and David Clowney will battle for Coles’ vacant spot on the depth chart.

None of that trio would be worth more than a late-round flier.

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