"It wasn't a higher-bid scenario,'' said agent Len Rowe, who admitted he and Edwards were still "shocked and disappointed'' Edwards was not picked in the NFL draft this weekend.
"We're doing a deal with Atlanta because Atlanta is home and he wanted an opportunity to make the team,'' Rowe said. "He's a Falcons fan and he wanted that opportunity.''
Edwards completed his college career with most of Georgia's receiving records and as the Southeastern Conference's career leader in receiving yards.
But Edwards' draft stock fell when he weighed in at the NFL combine lighter than expected and then did not run well at Georgia's pro day in Athens.
"Terrence got hurt in the first quarter of the Senior Bowl (all-star game) and wasn't able to train for (the pro day workout),'' said Rowe, who has offices in New Jersey and Atlanta. "He didn't run a great 40 that day and that scared off some teams. "We know Terrence can run. We all know Terrence is a quality player and a quality person. He's going to give it 100 percent with the Falcons.''
Edwards did not return phone messages Monday.
The Falcons have worked to upgrade the receiver position to give quarterback Michael Vick some speed at the position. The team traded its first-round pick in the draft for receiver Peerless Price and also signed veteran free agent Martay Jenkins.
Despite the competition at receiver with the Falcons, Edwards likes his chances to make Atlanta's roster.
"He felt he would have the best opportunity to make the team,'' Rowe said. "It's nothing against the Steelers organization. It was just that his heart was here in Atlanta.''
Rowe said Edwards hopes to use the hurt of not being drafted "as a motivating factor, and he's going to go out and give 100 percent and hopefully make those teams regret not picking him.''
Edwards is expected to sign with the Falcons today, a source with the team confirmed.
Georgia had seven players drafted: defensive tackle Johnathan Sullivan, New Orleans; offensive tackle George Foster, Denver; linebacker Boss Bailey, Detroit; offensive tackle Jon Stinchcomb, New Orleans; running back Musa Smith, Baltimore; linebacker Tony Gilbert, Arizona; and fullback J.T. Wall, Pittsburgh. Sullivan and Foster were first-round picks.
Four Georgia players signed as rookie free agents Monday: offensive guard Kevin Breedlove, San Diego; defensive end Nic Clemons and linebacker Chris Clemons, Washington and offensive tackle Kareem Marshall, Philadelphia. Rowe also represents Georgia offensive guard Alex Jackson. Rowe said Jackson has interest from some teams but has not yet signed.