Sources told NFL Network and ESPN that Bailey agreed to a two-year, $10.5 million contract with the NFC South franchise. Bailey, 30, was a third round pick by the Chiefs in the 2011 NFL Draft. The University of Miami product played his previous eight seasons with the Chiefs.
Bailey had 38 tackles, six sacks, five tackles for a loss, four fumble recoveries, two forced fumbles and a touchdown in 16 games last season. The 6-foot-3, 288-pound defensive lineman has 207 tackles, 34 tackles for a loss, 19.5 sacks, seven fumble recoveries, six passes defensed, four forced fumbles and a touchdown in 102 career appearances.
Falcons veterans reported to training camp Sunday in Flowery Branch, Ga.