Toronto, ON (My Sportsbook) - The Toronto Argonauts announced that they signed suspended Miami Dolphins running back Ricky Williams to a one-year deal at an afternoon press conference on Sunday.

"I'm excited to begin this new chapter of my life," said Williams. "Everyone I have met with the Toronto Argonauts organization has been extremely welcoming and kind. From the owners to the management to the football staff. I'm looking forward to getting to know my teammates at training camp and get to know them and the city of Toronto. I can't wait to hit the field and take part in community events as an Argo."

The much-hyped deal has reportedly been in the works for the last few weeks, with the Argonauts CEO and president Keith Pelly and Williams' agent, Leigh Steinberg, hammering out the details within the last few days.

"We all know Ricky Williams is special on the field but what I've learned in the last couple of days is that Ricky Williams is more special off the field," said Toronto president and CEO Keith Pelley. "Working side by side with the legendary Mike "Pinball" Clemons, I can categorically foresee how influential these two men can be to Toronto's youth. Ricky has made mistakes, but he will be the first to tell you he has learned from those mistakes. You only have to spend ten minutes with him to understand. On behalf of the entire Toronto Argonauts organization, we welcome Ricky to our team."

The former Texas Longhorn will begin two-a-days on Monday but will not play in the Argos preseason game against Hamilton on Friday. Williams is expected to play in the season opener against the Hamilton Tiger-Cats on June 17.

"He is quite literally one of the kindest and most thoughtful persons I have ever spent time with," said Argos head coach Clemons. "He is a kindred spirit, a man after my own heart, whose articulated desire is to serve others. Interestingly enough, I haven't said anything about his physical talents because it is Ricky Williams the man that is most impressive. Ricky, welcome to the Double Blue! And to our fans, soon you will be a fan too."

Williams will still be tested 10 times a month by the NFL.

The one-year deal is rumored to be worth $250,000, which would make him the highest paid running back in the league. The standard option year attached to all Canadian Football League contracts will be waived, making Williams eligible to return to the Dolphins for the 2007 season.

Williams, 29, was suspended by the NFL for his fourth violation of the league's anti-drug policy. He reportedly failed a drug test for a banned substance that is not marijuana. The first three violations for Williams came after he tested positive for marijuana. He now has to sit out at least 12 months before he can apply for reinstatement.

Williams was set to make $560,000 next season and had an option year in 2007, but because he was suspended his contract cannot expire while he is serving the layoff.

The running back returned to the gridiron in 2005 season after retiring in July of 2004. He rushed for 743 yards on 168 carries and got into the end zone six times. Williams sat out the first four games of the season and was fined for an extra four weeks for his second and third offenses.

Williams won the Heisman Trophy in 1998 and captured the NFL rushing title in 2002 when he ran for 1,853 yards.