Updated: Parrish has, indeed, been signed and is at the Raiders practice today. He is wearing #18 as of now. OL Zach Hurd has been designated as waived/injured to make room for him on the roster.
Per a profootballtalk.com article the Raiders have agreed to terms with recently released free agent returner/wide receiver Roscoe Parrish.
Parrish, 30, has been with the Bills his entire career, 7 years. He joined the Chargers this off-season as a free agent but was cut when the team moved from 90 players down to 75.
Parrish is most known as a punt returner - an area in which the Raiders have struggled in recent years and through the 2012 preseason. He has returned 135 punts in his career and has averaged 12 touchdowns per return as well as returning 3 of them for TDs.
He is less accomplished as a kickoff returner although he still has experience, there, having returned 29 kickoffs in his career and averaging 23.6 yards per return. He has never returned a kickoff return for a TD.
The Raiders have struggled in both areas no matter who was returning the ball and it seems likely that if Parrish is healthy that he'll be able to make the team as a backup receiver and primary return man.
If he makes the final squad Parrish would be in line to be the team's 6th receiver. In his career he has 134 receptions and has amassed 1,502 yards and 7 TDs.
The Raiders have not confirmed nor denied the move. If reports of the signing are accurate, the Raiders will have had to drop a player to add Parrish as they were at the maximum roster size of 75 as of yesterday. It is not known who was dropped to make room.
Let's bring in Chris Cooley now to strengthen the TE group. He is on the decline from his best but is still serviceable for a couple years and I think would shoot straight to the top of our depth chart.
P.S. "...averaged 12 touchdowns per return as well as returning 3 of them for TDs." You may want to correct that!