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Two-sport star Deion Sanders agreed today to a new contract with the Atlanta Falcons.

Sanders, also an outfielder for the Atlanta Braves, reported to the Falcons camp north of Atlanta to begin physical exams.The All-Pro cornerback was expected to join the team's 1 p.m. practice and could play against the Washington Redskins on Sunday.The one-year contract proposal, worth an estimated $2 million, was made Wednesday to Sanders' attorney, Eugene Parker.

Under his original contract - signed in 1989 - Sanders would earn $750,000 this season. There is a "voidable" option year in 1993, worth $1 million.

Under the contract, he would be allowed to play in the Falcons' four games, take a two-week break to play in baseball's postseason with the Braves, and then return to the NFL.

But he still would be fined for missing NFL games. If the Braves advance to the World Series, Sanders would miss the Oct. 11 game in Miami and the Oct. 18 game in San Francisco.

An agreement would bring to a close nearly two months of negotiations that started when the Falcons offered Sanders a $1 million bonus to report to training camp. He said `no' and announced Aug. 27 that he intended to stay with Braves indefinitely.

Sanders, who pulled a muscle in his right side while batting in an Aug. 31 game against the New York Mets, has made only two appearances for the Braves since the injury.

He has taken no batting practice and has had daily treatments.

"I'm going to assume that if he is not healthy, common sense will take over and he is not going to play football," said Braves general manager John Schuerholz Wednesday. "He can't play baseball, so you can't figure he could do much in football."